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The Base Village foreclosure has come and gone.
But when it was all said and done, it lacked the climactic ending that brought many of us to the steps of the Pitkin County Courthouse on Nov. 16.
Instead, Base Village went quietly back in to the hands of the four European banks lead by Hypo Real Estate Group.
So, what does this mean for the town? It means a positive move in the right direction, for now we have the ability to work with an owner versus a receiver.
However, we realize that real progress will come with a new developer with the expertise to move this complex project forward.
The bidding process that the banks initiated continues. The banks have stated that they are specifically looking for a developer with specific mountain resort experience. Lowe Enterprises Real Estate Service Inc. will still manage the Base Village PUD on behalf of the banks as well as the day-to-day operations.
If you haven't been down to Base Village recently, do check it out. Several restaurants and shops are open for the season, and we remain optimistic about the potential of this important area in town.
The Snowmass Village Mall
The Snowmass Village Mall will have a couple of new faces this season and next as the Westin will replace the Silvertree Hotel next year, and the Wildwood Lodge will become a boutique lodging property. The popular ski and apparel store Gorsuch will be opening there this winter … and don't forget to stop by the Snowmass Ice Age Discovery Center! We have worked with the Denver Museum of Nature and Science to refresh the exhibit and offer new information.
A budget story
On Nov. 7, the Snowmass Town Council approved the 2012 budget, while leaving itself a little wiggle room to re-visit the Snowmass Tourism budget as a result of future discussions with the marketing and special events board.
Given the challenges of our national and international economy, the 2012 budget remains lean and mean and very similar to the 2011 budget.
Without large capital projects, the town continues to plan for the future by updating it capital project plan. In addition, the town is evaluating how to fund enhancements to the town's trails system.
We have recently launched a formal volunteer program that encourages community members to come on out and help clean and maintain our trails.
Those interested in volunteering their time can call Lesley Compagnone in Town Hall at 970-923-3777.
Council also approved the 2011 amended general improvement district budget, which includes changing the hours of operation for the Sky Cab gondola, or “Skittles,” from 8 p.m. to 9 p.m. in the winter in 2012. To balance the budget, summer evening hours have been cut all together except for Thursday night concerts nights, Fridays and Saturdays.
We continue to be cautious about future revenues and that is reflected in this budget and we, of course, hope for the best, but remain fiscally conservative.
Marketing, movement and measurement
In the past few months, there has been some very healthy dialogue happening among council members, marketing board members, financial advisory board members, staff and the community about summer events, measurements, governance structure and financial understanding and awareness of financials as a whole.
On Oct. 17, the marketing board presented its new stakeholder report to council intended to outline goals, describe current funding for programs, share performance around programs and propose new goals and changes in the 2012 program.
We were pleasantly surprised that summer 2011 sales tax revenue was up 15 percent and occupancy was up 24 percent over the past six-month period.
However, there was a general level of acceptance of the report and the performance metric is still being tweaked.
On Dec. 7 at 1 p.m., council and the marketing board will meet again to further discuss the governance structure and expectations of that structure.
I'd like to commend both TOSV staff and the marketing board for the amount of time and energy it took to “look inward” and find new ways we can meet the needs of our retail and lodging community here in Snowmass.
In turn, I also thank the community for devoting itself with such passion to this important issue, one that is crucial to the success of the town and the resort.
Community pride, potluck and pies
Lastly, it was wonderful to see all of you at the John Bemis Thanksgiving Community Potluck on Nov. 20.
The warmth and generosity of this community continues to amaze me, and I couldn't be prouder that my family and I live in such a wonderful place.
I've been told that we collected hundreds of cans and boxes of food for Lift Up!, food that we know is so desperately needed this season as we work together to climb out of this recession.
It was certainly an exciting early start to the ski season and equally exciting to see such encouraging progress on the new Elk Camp restaurant — I can't wait to grab a bite there and we look forward to this wonderful winter season.
See you on the slopes!
Russ Forrest
Town Manager
Town of Snowmass Village
But when it was all said and done, it lacked the climactic ending that brought many of us to the steps of the Pitkin County Courthouse on Nov. 16.
Instead, Base Village went quietly back in to the hands of the four European banks lead by Hypo Real Estate Group.
So, what does this mean for the town? It means a positive move in the right direction, for now we have the ability to work with an owner versus a receiver.
However, we realize that real progress will come with a new developer with the expertise to move this complex project forward.
The bidding process that the banks initiated continues. The banks have stated that they are specifically looking for a developer with specific mountain resort experience. Lowe Enterprises Real Estate Service Inc. will still manage the Base Village PUD on behalf of the banks as well as the day-to-day operations.
If you haven't been down to Base Village recently, do check it out. Several restaurants and shops are open for the season, and we remain optimistic about the potential of this important area in town.
The Snowmass Village Mall
The Snowmass Village Mall will have a couple of new faces this season and next as the Westin will replace the Silvertree Hotel next year, and the Wildwood Lodge will become a boutique lodging property. The popular ski and apparel store Gorsuch will be opening there this winter … and don't forget to stop by the Snowmass Ice Age Discovery Center! We have worked with the Denver Museum of Nature and Science to refresh the exhibit and offer new information.
A budget story
On Nov. 7, the Snowmass Town Council approved the 2012 budget, while leaving itself a little wiggle room to re-visit the Snowmass Tourism budget as a result of future discussions with the marketing and special events board.
Given the challenges of our national and international economy, the 2012 budget remains lean and mean and very similar to the 2011 budget.
Without large capital projects, the town continues to plan for the future by updating it capital project plan. In addition, the town is evaluating how to fund enhancements to the town's trails system.
We have recently launched a formal volunteer program that encourages community members to come on out and help clean and maintain our trails.
Those interested in volunteering their time can call Lesley Compagnone in Town Hall at 970-923-3777.
Council also approved the 2011 amended general improvement district budget, which includes changing the hours of operation for the Sky Cab gondola, or “Skittles,” from 8 p.m. to 9 p.m. in the winter in 2012. To balance the budget, summer evening hours have been cut all together except for Thursday night concerts nights, Fridays and Saturdays.
We continue to be cautious about future revenues and that is reflected in this budget and we, of course, hope for the best, but remain fiscally conservative.
Marketing, movement and measurement
In the past few months, there has been some very healthy dialogue happening among council members, marketing board members, financial advisory board members, staff and the community about summer events, measurements, governance structure and financial understanding and awareness of financials as a whole.
On Oct. 17, the marketing board presented its new stakeholder report to council intended to outline goals, describe current funding for programs, share performance around programs and propose new goals and changes in the 2012 program.
We were pleasantly surprised that summer 2011 sales tax revenue was up 15 percent and occupancy was up 24 percent over the past six-month period.
However, there was a general level of acceptance of the report and the performance metric is still being tweaked.
On Dec. 7 at 1 p.m., council and the marketing board will meet again to further discuss the governance structure and expectations of that structure.
I'd like to commend both TOSV staff and the marketing board for the amount of time and energy it took to “look inward” and find new ways we can meet the needs of our retail and lodging community here in Snowmass.
In turn, I also thank the community for devoting itself with such passion to this important issue, one that is crucial to the success of the town and the resort.
Community pride, potluck and pies
Lastly, it was wonderful to see all of you at the John Bemis Thanksgiving Community Potluck on Nov. 20.
The warmth and generosity of this community continues to amaze me, and I couldn't be prouder that my family and I live in such a wonderful place.
I've been told that we collected hundreds of cans and boxes of food for Lift Up!, food that we know is so desperately needed this season as we work together to climb out of this recession.
It was certainly an exciting early start to the ski season and equally exciting to see such encouraging progress on the new Elk Camp restaurant — I can't wait to grab a bite there and we look forward to this wonderful winter season.
See you on the slopes!
Russ Forrest
Town Manager
Town of Snowmass Village
