City keeps ice rink dream alive
The city of South Lake Tahoe will likely enter into a Memorandum of Understanding, negotiating exclusively with two companies that hope to construct and operate an ice rink on Rufus Allen Boulevard.
ProSites Management, LLC and Co-Energy Group will have the city’s exclusive attention for the next 60 days to convince city officials their plan for the ice rink is the right one.
Under the proposal, ProSites, of Sparks, would operate the rink and Co-Energy, of Sacramento, would build it.
The proposed rink would be enclosed and include a pro shop. It would be open to the public as well as used for adult hockey leagues, said Mike Hackett, director of operations for ProSites.
A group of community residents tried two years ago to open the South Tahoe Ice Center at the same site. Plagued by funding problems, the STIC never came to fruition and the city is now facing potential legal action from unpaid creditors.
STIC creditors are still pursuing a financial solution with the city.
Last spring, when it was learned the STIC venture was dead, the city sent out numerous Requests for Proposals to various companies which city officials thought might be interested in undertaking the ice rink project.
The city received an answer from only one RFP, that of ProSites and Co-Energy.
Representatives from the companies came to a City Council meeting last summer to offer a proposal.
Council members were skeptical of the companies revenue projections and told them to come back when they were able to guarantee payment of bonds.
Under the proposal, the city will raise revenues to construct the rink by selling municipal bonds and ProSites and Co-Energy will pay the city back with revenue from the rink.
Mayor Hal Cole said Friday that the council wants a Letter of Credit, which is similar to cash, to back up the revenue projections.
“We want them to take all the risks for the next couple years,” Cole said.
Cole said the council will provide the city attorney will direction regarding what the council wants to see from the potential rink purveyors at Tuesday’s meeting.
“I’ve got my fingers crossed,” Cole said. “We want to give them every chance we can.”
Who: The South Lake Tahoe City Council
When: 6 p.m. (includes a meeting of the council, the South Tahoe Housing Authority and the Redevelopment Agency)
Where: City Council Chambers, 1900 Lake Tahoe Blvd.
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