Title
RESOLUTION AUTHORIZING $100,000 PAYMENT TO SPIRIT MOUNTAIN FOR THE FINAL SNOW GUN LEASE PAYMENT AND BUYOUT.
Body
CITY PROPOSAL:
WHEREAS; the city council approved $215,200 as undesignated funds in resolution 18-0807 passed on December 10, 2018 that appropriated the estimated 2019 hotel-motel and food and beverage tourism taxes and is available to finance the city’s contribution towards the Spirit Mountain snow gun lease payment and buyout.
WHEREAS; budget constraints incurred during the Spirit Mountain water line project required Spirit Mountain to invest in new snow guns to fully utilize the increased snowmaking capacity, of which Spirit Mountain entered into a capital lease with a buyout.
RESOLVED, that the proper city officials are hereby authorized to grant $100,000 to Spirit Mountain for the final payment and buyout of the snow guns, payable from the Tourism Taxes Fund Unassigned Fund Balance (Fund 258-2530).
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes $100,000 to Spirit Mountain for the final payment and buyout of snow guns. Snow guns were removed from the snowmaking water line project budget due to a funding shortfall. Spirit Mountain purchased the snow guns using their operating budget with a commitment from the City to assist Spirit Mountain with the payments. Spirit Mountain has paid $150,000 to date and in keeping with the previous city commitment, is seeking assistance with the final lease payment due on the snow guns. This agreement is funded by tourism tax collections.