Tam openening for ski season

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conman2800

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Tam openening for ski season yyup 8 house holders put together 8 million dollars and formed a unicorporation. In an effort to save their assets, nine homeowners recently formed an unincorporated organization called West Mountain Preservation Management Association. On Friday, that association filed a motion with the judge to reopen Tamarack.In court papers obtained by KTVB, the homeowners say they've secured nearly $8-million from a Mexican real estate investment company . Before they access that money, they need another receiver put in place to manage resort operations. With that receiver and with the millions in funding, the homeowners say they can open for ski season and once again winterize the partially completed Village Plaza
 
It's by no means a done deal, but I'd say they are very close. Not a guarantee, obviously, but with scaled down operations (less staff, etc.), I think they could probably do it.

Confirmation:

Tamarack homeowners seek to reopen ski resort

http://www.fox12idaho.com/Global/story.asp?S=11214088

BOISE, Idaho (AP) - Homeowners with properties near the shuttered Tamarack Resort north of Boise are taking legal steps in hopes of reviving the resort's ski operation this winter.

The ski resort closed in March because of financial problems.

Tamarack homeowner Bill Ciraco told The Associated Press he and other homeowners filed court papers last week saying they've gotten funding from a Mexican real estate investment company to help reopen the ski resort.

The homeowners want the resort to resume operations, to maintain the value of their own investments as well as help lure an eventual investor they hope will rescue Tamarack.

Tamarack opened in 2004 about 90 miles north of Boise at the apex of the real-estate bubble, but has been struggling to stay alive since it began missing payments on a $250 million syndicated loan arranged by Zurich-based Credit Suisse Group.

The golf course reopened this summer.
 
i dont know why your so againts it all tha time. you used to ski that shit every day for one... and two you know they have by far the best park in the area. the passes were cheap, the tree skiing was decent. you could find fresh lines two weeks after the last fresh snow, and the food was delish. minus the distance whats to hate? back up yo claims son
 
hahahah "Back up yo claims son"........ alright, no offense but you bout to sound real stupid brah. #1 i never said I and I hated Tamarack. #2 if you look back into later posts i say, i hate the new Tamarack. #3 all the years before last year when they became hella fuckin bankrupt, were way fuckin legit. #4 i never bagged on Tamaracks tree skiing once, i always said they had good tree skiing. #5 if you really think Tamarack had a good park last year then you have gotta be blind or seein shit, G. cause everywhere around here last year had a shitty park. #6 thats just a couple reasonswh the NEW Tamarack is bunk and fuckin lame as shit. #7 when they finally get outta all of this, im damn sure im going to buy a season pass. but for the time being, "Fuck em".

sorry homie, but dont go tellin me to bring facts. BLAAAAAAAHHAHAHAHAHA!
 
i love tamarack but last year was definately not as legit as years before. when they finally built a big just it was kinda shitty
 
7.9 million dollars from mexican investors is not nearly enough money to run a ski resort for a season. Even if they opened only one ski lift, no day lodges, and limited staff - it costs a lot of money to run a ski resort. They are not able to get any loans so they have to run off of cash. If they are able to pull this off, it will completly stun the whole ski industry.

They will also have to honor all of the season passes they sold last year. And with their track record, I doubt people will be buying season passes.
 
It would actually stun the entire business world as well. Imagine if they tried to open and went under again =(

 
What are you talking about? They're still "under" by nearly $300 million.

The resort would be operated by a receiver, just like last season. The main difference is that this time the receiver would be the president/CEO of the Tamarack Homeowners Association. The reason this is not going to work is because that would effectively place Tamarack Homeowners Association at the top of the list of creditors, before even Credit Suisse (the Swiss bank that gave Tamarack that $250 million loan).

Kori is very right though... $8 million cannot run a resort for 4.5 months. Think about it, you've got employees to pay, lifts to run, maintenance costs, food to buy/sell, concessionaire slots to be filled, lodging, etc. In the grand scheme of things, $8 million is nothing. The only way to pull it off is to make the place profitable. And I doubt it will ever be so, especially in its current state.

For example, Schweitzer, up here in north Idaho, according to CEO Tom Chasse, barely breaks even. And that's including real estate sales, which this year have flattened out (obviously). Tamarack was meant to be a profitable resort, but it was based on real estate. In many ways, the only way for an Idaho resort (other than maybe Sun Valley) to be profitable is to sell yourself to destination travelers and real estate. Tamarack has succeeded in doing neither. Maybe that's why I think Tamarack is dead for the time being. The only way I think it would be resurrected is if Apollo or Starwood actually bought it. Both companies have had great success stories in making ski resorts profitable (Vail Resorts, Mammoth), so those are the only two buyers that I really think could do a good job at it.

In short, Tamarack is a destination resort that should have been a regional resort. Regional resorts tend to do better in the long run, at least percent-wise. We'll see later this month. My hopes are high but my expectations are very low.
 
sorry I was quite drunk when I wrote that, by go under again I simply meant attempt to open again and have to close right away. I am well aware they are in massive debt but opening only to close a month later would probably be the final blow.
 
fool i never once acused you of saying any of that. i was just statin facts. you still didnt answer my question... what you got against tam that makes it so bad
 
Fool???? KYLE, sorry but your the fuckin fool man. i never once said anything about you accusin me. you stated your facts, wanna cookie? I answered your question. I said, i have notta damn thing against the old Tamarack. Fuck the new Tamarack.. if you really need me to go back into detail on why the new Tamarack is whack, i can.

one other reason that i forgot to put in the post above. was the Joeys that are often shreddin there now, all though there is some legit people.
 
read an editorial in the newspaper it said that the homeowners wanted to buy the resort for themselves and have it private.
 
fuck you and your caps who are you Tanner Hall ? no didnt think so fag go burn in hell d-bag omg.
lol.
 
so i heard. any words on opening dates? im assuming they wont be blowing because thats gonna run their costs up hella quick, and they dont really have that much to begin with.
 
In the news todayBOISE, Idaho (AP) -- A judge will let Tamarack Resort property owners participate in a foreclosure lawsuit over the failed Idaho vacation getaway, but refused to endorse their plan to use a Mexican real-estate lender's cash to open skiing this winter.

In a decision Tuesday, 4th District Court Judge Patrick Owen wrote he'll at least allow homeowners to argue their case, despite his "concerns that this is not a proper case for intervention."

The homeowners want to use a $7.9 million loan from Mexico-based Inmobiliaria Las Fuentes, S.A. de C.V. to hire a new receiver to reopen the resort.

Zurich-based Credit Suisse Group and others owed more than $300 million by Tamarack are fighting the homeowners' plan, on grounds the Mexican firm has made being repaid before existing creditors a condition of extending the money.

 
Basicly its not going to happen, Credit swiss ( the bank that is owed $$) delayed a ruling untill at the earliest the beginning of Dec. That said, the mountain itself would need at min. a month to prep, hire staff, maintanance the machinery, so at the earliest they would be looking at opening sometime in Mid Jan. Kinda pointless. Anyways, I have all the love for Tamarack and hope to see it some back soon but I hate to get my hopes up. Lets just make the best out of what we got and shred!
 
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