PRESS RELEASE

At a special meeting on Sept. 18, the North Tahoe Public Utility Board of Directors voted 3-2 to sign the lease with Laulima Kings Beach Event Center LLC for renovation, operation, and management of the North Tahoe Event Center. Directors Sarah Coolidge, Phil Thompson, and President Lewis voted in favor, with Directors Sue Daniels and Tim Ferrell voting against the resolution.
 
Once the lease is signed, a series of required actions for the district and Laulima will begin as outlined in the lease. The NTPUD will file a validation action with Placer County Superior Court to confirm the lease meets the deed restriction placed on the property when it was given to the district. Laulima’s responsibilities include providing information to the NTPUD to verify financial ability and submitting renovation design concepts. Updates on these actions will continue to be posted at ntpud.org/ntec.
 
The elimination of operating deficits coupled with guaranteed annual income brings the NTPUD Recreation Department one step closer to financial solvency, a primary goal of the district’s strategic plan. The event center has consistently operated at an annual operating deficit averaging $90,000 over the last 12 years with the need for an additional $80,000 a year for deferred maintenance.
 
Since the release of the draft final lease, over 120 people have attended the four meetings. More than 150 questions have been asked, and the answers have been posted to the district’s website.

Author

  • Moonshine Ink Staff

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