| TahoeDailyTribune.com

Lake Tahoe weather: Warm temperatures, slight chance of thunderstorms this week

Amid warm and mostly sunny conditions, Lake Tahoe will see a slight chance of thunderstorms this week.

Monday will start the week with a high temperature of 80 degrees in South Lake Tahoe, according to the National Weather Service in Reno. Southwest winds are expected to range from 5 to 10 mph, with gusts as strong as 20 mph. 

There will be a slight chance of thunderstorms after 11 p.m. Monday. Conditions will be partly cloudy, with an overnight low around 57 degrees. There is a 20% chance of precipitation.

A slight chance of thunderstorms will linger into Tuesday morning before 11 a.m. The high temperature will reach 74 degrees in South Lake Tahoe, according to the weather service. Light winds of 10 to 15 mph are expected, with gusts as strong as 25 mph.

Tuesday night will be mostly clear, with an overnight low around 53 degrees. 

Wednesday will be sunny with a high temperature of 79 degrees, per the weather service. The overnight low will fall to 56 degrees.

Thursday could bring slightly increased cloud coverage, but will otherwise be nearly identical to Wednesday.

Vail Resorts to acquire 17 additional US ski areas

Vail Resorts announced Monday morning that it has entered into an agreement to acquire Peak Resorts Inc.

The deal, valued at approximately $264 million, will bring 17 additional ski areas into the Vail Resorts portfolio, according to a press release.

The deal is subject to conditions, including regulatory review and approval by Peak Resorts’ shareholders. The transaction was approved by both companies’ boards of directors. Peak’s board has recommended that the company’s shareholders approve the transaction.

If approved, the deal would give Vail — which owns three resorts in the Tahoe area and at least 17 other ski areas across the globe, according to a 2019 investor presentation — an expanded foothold on the East Coast and in the Midwest.

Peak Resorts properties include:

Vail-Resorts
  • Mount Snow in Vermont
  • Hunter Mountain in New York
  • Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
  • Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
  • Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
  • Hidden Valley and Snow Creek in Missouri
  • Paoli Peaks in Indiana

Once the transaction closes, the 2019-20 Epic Pass, Epic Local Pass and Military Epic Pass will include unlimited and unrestricted access to the Peak ski areas, according to Vail. Guests with an Epic Day Pass will be able to access the new ski areas as a part of the total number of days purchased.

Vail Resorts will honor and continue to sell all Peak Resorts pass products during the 2019-20 season. Peak pass holders will have the option to upgrade to an Epic Pass or Epic Local Pass once the transaction closes.

“The ski areas within the Peak Resorts portfolio exemplify the spirit of our sport as well as our Company’s mission to provide an Experience of a Lifetime to guests,” Rob Katz, chairman and CEO of Vail Resorts, said in a press release. “We’re thrilled to welcome the resorts and their employees into the Vail Resorts family and invest in their continued success.”

At a valuation of $11 per share, the total transaction is expected to cost approximately $264 million. Vail intends to finance the acquisition through a combination of cash on hand, its existing revolver facility and an expansion of its existing credit facility.

Additionally, Vail Resorts will be assuming or refinancing Peak Resorts’ outstanding debt.

“Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network,” Timothy Boyd, president and CEO of Peak Resorts, said in the press release. “We are very proud of our track record over the last two decades in building the breadth, quality and accessibility of our resorts. We are thrilled that our guests will now have access to some of the world’s most renowned resorts.”

The transaction is expected to close this fall, according to Vail. Operations at all Peak ski areas are expected to continue in the ordinary course of business.

Vail said it plans to retain the vast majority of each resort’s employees once the deal closes.

The acquisition is expected to generate incremental annual EBITDA (earnings before interest, tax, depreciation and amortization) of approximately $60 million in Vail Resorts’ fiscal year ending July 31, 2021.

Synergies are expected to come from additional revenue across the Vail Resorts network of resorts and cost reductions from the elimination of certain duplicative administrative functions and greater efficiencies.

Vail Resorts’ annual ongoing capital expenditures are expected to increase by $10 million to support the addition of the Peak Resorts ski areas, according to Vail, which plans to invest approximately $15 million over the next two years in one-time capital spending to elevate the guest experience at these resorts.

CORRECTION: This story incorrectly stated Vail Resorts owned and operated 13 ski areas. That was based on incorrect information posted on the Vail Resorts’ website.

Impact of Eldorado-Caesars deal on Lake Tahoe gaming market remains unknown

It’s been more than four weeks since an announced merger that, if approved, would create the largest gaming owner and operator in the U.S., and potentially consolidate a majority of South Shore’s major casinos under one corporate umbrella.

However, it’s unclear how the purchase of Caesars Entertainment by Reno-based Eldorado Resorts will impact Tahoe’s gaming market — if at all.

So far the parties have been reluctant to share or speculate on finer-level details of the merger.

Currently Caesars owns Harrah’s and Harveys Lake Tahoe in Stateline. Eldorado acquired MontBleu Resort Casino and Spa in 2018 as part of a larger, $1.85 billion deal to purchase assets owned by Tropicana Entertainment.

In late June, Eldorado announced it would be purchasing Caesars in a deal valued at $17.3 billion. Ownership of the merged companies will be split between Eldorado and Caesars shareholders, 51% to 49% respectively.

The new company would retain the Caesars brand, which is among the most iconic in the gaming industry, but the executive leadership will come from Eldorado. The corporate headquarters will be in Reno.

In detailing the strategic reasons for the merger, the companies said the new Caesars would be the largest U.S. gaming company, with roughly 60 owned, operated and managed casino-resorts located across 16 states.

According to a press release, Eldorado expects to achieve approximately $500 million of synergies in the first year after the deal closes, with additional revenue synergy opportunities in the future. It’s unclear if those “synergies” will translate to layoffs at individual properties.

However, as reported by the Las Vegas Sun, some in the industry are already ringing alarm bells over the projected cost savings.

“Eldorado announced cost-savings of $500 million in the first year of the combined company,” Culinary Workers Union President D. Taylor told the Las Vegas Sun in a statement. “Where are they going to cut?”

Anthony Carano, Eldorado’s president and chief operating officer, told the newspaper it was too early to discuss specifics but that he expected very little turnover among hourly employees and management.

Similarly, an Eldorado spokesperson told the Tribune that the company had no comment on whether the merger would result in staff reductions. An inquiry to a local spokesperson with Caesars’ Tahoe properties was directed to the corporate office.

Asset sale?

Also seemingly unknown at the moment — at least publicly — is how the merger could impact the assets held by both companies.

Together, those three Tahoe properties constitute a powerful block in South Shore’s gaming and entertainment scene. If allowed to stay under the same ownership, the deal would leave Hard Rock Hotel and Casino, Lakeside Inn and Dotty’s Casino to battle it out with the new Caesars.

In a conference call on the day of the formal announcement, Eldorado CEO Tom Reeg said some assets likely will have to be spun off in order to appease regulators, including those with the U.S. Securities and Exchange Commission.

“We know there are assets that we intend to prune and in a couple of cases that likely helps the SEC argument,” Reeg said.

However, much of that conversation on the conference call focused on the Las Vegas Strip, where Reeg said the new company would likely have more properties “than we would need to accomplish our goals.”

Tahoe was not mentioned during the conference call.

Among Nevada’s gaming markets, Tahoe’s South Shore trails both of the state’s major cities — Reno and Las Vegas — as well as Washoe and Clark counties, where each city is located, when it comes to gaming win.

In response to a question asking if discussions have taken place on the Tahoe assets, Richard Broome, executive vice president of communications and government relations for Caesars, told the Tribune that question would need to be directed to Eldorado Resorts.

Caroline Coyle, Eldorado’s vice president for advertising and brand marketing, told the Tribune the company had no comment.

Ultimately, any decision to sell local assets comes down to the various regulatory agencies, David G. Schwartz, gaming historian at the University of Nevada-Las Vegas, told the Tribune.

While three casinos under the same ownership might seem like a lot, it depends on the region and how the market is defined.

He said there are potential negatives and positives with owning a heavy concentration of properties in one area.

In this deal in particular, Eldorado takes ownership of Caesars’ rewards program, which is viewed as the leader in the industry. It also could help in booking entertainment talent.

On the negative side, saturated ownership in one market would likely mean less competition, which would be bad for customers.

“Any time you have less competition, customers have one fewer place to go,” Schwartz said.

History of changing hands

In Tahoe’s history, casinos changing ownership can seem as casual as putting a $20 in a slot machine.

The South Shore gaming scene underwent a titanic shift in 2001 when Harrah’s announced it was buying Harveys. As the Tribune reported at the time, the two casinos located across the street from one another were started as competing roadside gambling parlors — one owned by Harvey Gross and the other by Bill Harrah.

In 2005 Harrah’s acquired Caesars Entertainment Inc., which had sold its Caesars Tahoe property — now known as MontBleu — to Columbia Sussex. Columbia created a subsidiary, Tropicana Entertainment LLC, which owned MontBleu until it was sold to Eldorado Resorts in 2018.

At the time of the transition from Caesars Tahoe to MontBleu, Columbia Sussex owned the Horizon Casino across the street.

The Horizon, which has since changed ownership, is now Hard Rock Hotel and Casino.

Harrah’s changed its corporate name back to Caesars in 2010, but the two Tahoe properties’ names — Harrah’s and Harveys — remained unchanged.

Operating impact

While the deal is being finalized, it is not expected to have an impact on the Tahoe properties owned by Caesars and Eldorado.

“It’s business as usual for us now (until the deal closes),” Broome said.

That means Caesars’ paid parking policy, which was instituted at Harrah’s and Harveys Lake Tahoe in 2018, will not be changing in the immediate future.

According to a presentation, the transaction is expected to close in the first half of 2020.

Once the deal is complete Reeg said the biggest change will be in management style. Caesars structure is much more corporate-down, while Eldorado generally gives management at the local level more decision-making power.

“The further you get from the fundamental interaction between your employees and your customers where you make your money … the more people you put in the middle of that the worse you do,” Reeg said on the conference call.

In terms of the magnitude of the deal, gaming historian Schwartz noted that it takes Eldorado — which started with one casino in Reno — from a regional operator into and industry powerhouse.

“It’s a big deal,” he said.

Expect lane closures on Kingsbury through July

Single lane closures will take place on the Carson Valley side of Kingsbury Grade through July 31 as the Nevada Department of Transportation clears roadside slopes.

Small sections of Kingsbury Grade will be reduced to one lane from approximately 7 a.m. to 3:30 p.m. Mondays through Thursdays between Daggett Summit and Foothill Road, according to NDOT.

Motorists are advised to anticipate minor travel delays as traffic flaggers and pilot cars alternate directions of travel through localized road work zones. The road work schedule is subject to change.

As part of continuing roadway maintenance, NDOT is removing roadside dirt and rocks, which have loosened from roadside slopes, before a scheduled roadway resurfacing later this summer.

State road updates are available by visiting nvroads.com or dialing 775-888-7000.

One-way traffic with traffic controls and pilot cars will be in place to safely guide motorists through the road work zones, with travel delays of up to 20 minutes. Motorists are advised to drive at posted work zone speed limits, or slower as necessary for conditions.

Healthy menu tips for dining out

Today’s American families spend as much as half their food budget on meals away from home.

Meals at restaurants can be costly on the wallet, but are also costly for a family’s health.

While it is easy to point the unhealthy finger at fast food and convenience stores, sit-down restaurants should not be overlooked. Research in the Archives of Pediatrics & Adolescent Medicine journal shows children, depending on the age, consume between 125 and 310 extra calories at a fast-food meal and between 160 and 267 extra calories for a full-service dining experience.

It only takes 50 to 150 additional calories a day for children to gain weight — the difference between eating meals at home and dining out.

Reduce the caloric damage from restaurants with these eye-opening tips for you and your family’s health:

Take a family walk before or after a restaurant meal.

Order food that is grilled or steamed. Avoid fried or sautéed options.

Pick a healthy side dish. Instead of French fries, order fresh fruit or vegetables.

Skip sugary and caloric drinks. Drink water, fat-free milk, or unsweetened tea.

Hold the butter and avoid meals with gravy and creamy sauces.

Dine in places with calorie counts on the menu or look for nutrition information online. One study showed parents with this information ordered meals with 100 fewer calories for their children.

When dining as a family, lead by example. Start your meal with a salad and have dressing on the side.

For restaurants with large portions:

Avoid all-you-can-eat buffets. Everyone is more likely to overeat.

Order a side or an appetizer instead of a meal.

Split the dish with another person at the table.

Bring your own “to go” container. When the meal arrives, immediately put half the meal in this container and save it for another meal.

You do not have to ban your favorite diner, drive-thru or deli. Smart choices can keep your family eating healthy at almost any establishment.

Healthy Tahoe is a look at health-related topics that shape our community and is made possible through content provided by our sponsors.

#TahoeSnaps: Summer is in full swing at Lake Tahoe (photos)

All photos courtesy of #TahoeSnaps

TahoeSnaps, the Tribune’s Instagram account, is a lake-wide endeavor. We joined forces with Lake Tahoe Action to bring our readers more fun photos from around Lake Tahoe.

Here’s the fun part: Tag us or use our hashtag (#TahoeSnaps) when you post a Tahoe-focused photo to Instagram, and you may see your photo reposted to our account or printed in Saturday’s Tribune. Photos should feature Tahoe’s vibe — ski shots, lake views, family fun, snowball fights, really anything you’re doing around our lovely lakeside communities. We post and repost on a daily basis.

Market Pulse: More records

Now it’s official: This is the longest economic recovery/expansion ever.

I mentioned a few years ago why much better days were ahead — rising personal income, employment, business investment and productivity. And it’s still true.

Some believe expansions die of old age. Not so. Australia’s is 28 years old.

Expansions end when the reasons they began and continued are no longer there or likely to reappear soon. They also die when excesses build. We are not there yet.

The “Sell in May” crowd had their day and stocks fell, but not for long. Stocks turned higher in June with the S&P 500 rising 6.9%, the best June in 64 years. July is off to a good start with stocks closing at a record high earlier this week.

One trigger for the recent bull run was the near certainty that interest rates will be cut soon and cut more later if the somewhat weaker economic data continue to show a softening but still healthy economy. Rates are being cut in Europe (record lows), Japan and Asia. Australia cut its short-term rate to 1%, the lowest ever.

No one is worried about inflation, which is why bonds worth $15 trillion or more have negative yields. In Germany the 10-year bond yields a negative 0.40%. In Japan theirs is a negative 0.20%. You can earn 0.22% in Spain’s 10-year bond.

Have such low and negative rates had a significant impact on economies in Europe and Asia? No. Lower rates may not spur the economy here more than a token. Still, they would boost stocks.

Another trigger appeared when banks that passed their annual Federal Reserve stress test (all did) were given the green light to increase dividends and buy back stock. All the larger banks raised their payouts. Even Wells Fargo, which is still under a cloud, raised its dividend 13.3% to 51 cents quarterly where it yields 4.3%.

I can’t avoid coming back to what should seem obvious to all, but clearly isn’t. I’m referring to the unattractive alternatives to stocks. They are becoming even more unattractive as yields fall.

There will be even more new highs in the second half, though stocks won’t rise as far nor as fast as they did in the first half. Why? Investing is all about earnings.

Earnings this quarter will be virtually flat compared to a year ago and no one is optimistic that profits will be the market’s driving force anytime soon.

David Vomund is an Incline Village-based fee-only money manager. Information is found at www.VomundInvestments.com or by calling 775-832-8555. Clients hold the positions mentioned in this article. Past performance does not guarantee future results. Consult your financial advisor before purchasing any security.

Search and rescue: Volunteering ‘so others may live’

Volunteers are a special breed. The unsung heroes who help keep civilization humming, some deserve extra recognition for the risks and self-sacrifice they take on our behalf.

Among them are search and rescue volunteers.

The search and rescue program in El Dorado County is made up of both a West Slope and a South Lake Tahoe team. The public got a dramatic view of what search and rescue volunteers do when two cross-country skiers were stranded in a blizzard for two days in Tahoe over Presidents Day weekend.

But SAR volunteers get involved in all kinds of life-threatening situations, according to Sgt. Moke Auwae who is a supervisor in the El Dorado County Sheriff’s Office of Emergency Services, the agency that oversees the SAR program.

In the first quarter of this year the West Slope team went on 13 in-county searches and four out-of-county searches. The South Lake Tahoe team has aided in eight in-county searches and one out of county.

Auwae said the South Lake Tahoe team usually runs more missions than the West Slope team. “People come from the Bay Area and go hiking but because there is better cell phone coverage (in Tahoe), the South Lake Tahoe team’s missions run six to 12 hours whereas West Slope team missions may run 36 hours to seven days because if someone gets lost (on the West Slope) it’s harder to find them because cell phone coverage is not as good. So on the East Slope we rescue and on West Slope we search,” he laughed.

El Dorado County SAR had a tally of 120 volunteers the a quarterly report was done and on average have between 100-150 at any given time. Some have been in it for 30 years and others come and go after a few months, according to Auwae.

“Many of our volunteers are retired or own their own businesses, which is why they are able to devote so much time to this program,” he explained. “We also have several Intel employees and others like Aerojet who encourage volunteerism and allow their employees to use some of their work time to do this.”

A program with a long and interesting history, Auwae said in this county it started out as the Sheriff’s Posse, where ranchers and cowboys would get on their horses and go out looking when someone went missing. It has continued as a volunteer program overseen by the sheriff’s department, although the requirements and training have developed and changed over the years.

Today almost all SARs in California have to be run through the local sheriff’s office or be vetted through the state Office of Emergency Services.

Training and typing volunteers

Very proud of the local SAR team, Auwae said its motto is “So others may live,” adding that while volunteers are willing to risk their lives for other people, deputies coordinating the searches don’t want the volunteers to risk their lives unnecessarily.

General requirements to join SAR include going through a brief background check. Once vetted, the program has a 50 percent rule so volunteers have to make 50 percent of the missions, 50 percent of trainings in their discipline and 50 percent of monthly meetings.

“What we do is not always safe,” he said. “We don’t deliberately send people into danger but hiking at 11,000 feet … or riding an ATV is dangerous. So we want to make sure the person’s skills are current.

“We have a high expectation of how they will represent the sheriff’s office and that’s how we’re able to maintain our reputation that El Dorado County has,” he continued. “We’re well-respected in the state. We have one of the larger SAR programs in the state and we’re one of Northern California’s go-to teams for SAR … Volunteers are an amazing resource for the county and for all practical purposes are free for the county, so we don’t want them to get hurt.”

To prevent that, volunteers first have to attend a basic academy before being allowed to go on a search.

The training, which is free to SAR volunteers, starts with what a search looks like, what the volunteer’s responsibilities are, how to talk on a radio, crime scene preservation and basic first aid. That’s the minimum.

Someone who is going to be a field asset then goes to the intermediate academy, where they are trained in wilderness survival, navigation, how to survive severe weather and advanced wilderness first aid. After that volunteers can be on whatever team or teams that they want but the 50 percent requirement applies to each team.

With seven teams making up the county SAR program, each has different training requirements. Teams include ground, four-wheel vehicle, mounted, canine, swift water, technical rope and search management.

The training then leads to assigning the volunteers according to their skill set and equipment they can use and carry.

Volunteers start out as a Type 4, which Auwae called an urban searcher and is someone who walks on concrete or asphalt. “But in our terrain you need some with significant wilderness skills to work for us,” he said.

A Type 3 is foothill searcher or day hiker. That person has to carry a 24-hour backpack and have the skills to stay out overnight if they can’t be extracted.

The majority of ground searchers are Type 2, which means they can hike at elevations of 8,000 to 10,000 feet.

Type 1 are alpine and snow trained. This involves the toughest conditions and longest stays. A person has to carry a 72-hour pack and have a higher level of first aid training, which usually means they are EMTs or have had wilderness first aid training.

“We don’t require a physical,” Auwae said, “but do require is a fitness hike where they have to use the skills they have learned in class.”

All searchers Type 3 and above carry a GPS device so deputies can track how well the volunteers have covered an area. Those GPS readings are then downloaded and compared to see if another team needs to go out.

“We also train them to look for clues and how to use the GPS to mark the clues,” Auwae said. “We put all that information on a map and then create a plan so we can be efficient with searches.”

In the case where various agencies and SAR volunteers were looking for the two women lost in the snow, they had help from Type 1 SAR volunteers from throughout the state.

Jason, the man who helped rescue the two snowbound women in Tahoe, is one of the highest trained volunteers. “He’s qualified to go in blizzard conditions, our highest peaks and has the skill set to survive in country for 72 hours because we may not be able to extract him for that time period due to weather,” Auwae said.

The largest search in the state’s history was in the aftermath of the Camp Fire, when more than 600 volunteers looked for the remains of those who died in the blaze. Auwae, who was one of the searchers, said it was done over a 14- to 16-day period with different crews rotating in for a few days at a time.

The dogs of SAR

One of El Dorado County Search and Rescue’s teams is made up of dogs and their owners who train together two or three times a week.

The dogs belong to volunteers but are trained according to standards set by the California Rescue Dog Association. Their owners are also trained and have to meet the same basic requirements as someone on a ground team.

Coming in all sizes and breeds, SAR dogs include terriers, schnauzers, golden retrievers and German shepherds. Auwae said one of the most successful dogs is a terrier mix named Pip. “They are prey-driven and that’s what you want from a search dog,” he explained.

Because of the varied nature of the work, the dogs are trained for different kinds of missions including ones that involve travel in a helicopter.

Search dogs are trained to look for people and others are trailing dogs that can follow a particular scent. Some specialize in finding decomposing bodies. A subset of cadaver dogs are those trained to find dead bodies in water.

Auwae said two finds were in Lake Tahoe using cadaver dogs where the bodies were hundreds of feet below the water. The dogs could detect the bodies because when they decompose they give off gas and as the gas rises, the dog can smell it.

Educational outreach

Another mission of the SAR program is education. SAR carries out training programs in different ways and for different groups. One program for kids teaches children who get lost in the woods to hug a tree and wait for someone to find them rather than wander since that makes them harder to find.

Another program is aimed at getting young people interested in law enforcement by incorporating the sheriff’s explorers program into SAR.

The El Dorado Search and Rescue Council, an independent nonprofit, helps raise awareness of SAR as well as fundraise to help cover the cost of specialized training for volunteers or specialized equipment such as that used by the tech rope team.

“These people are highly dedicated and sacrifice quite a bit to be prepared,” Auwae said proudly, noting that volunteers are called out at all times of the day or night and they all do it on a voluntary basis with one motto in mind, “so others may live.”

Four North Lake Tahoe, Truckee nonprofits merge to form Sierra Community House

KINGS BEACH, Calif. — Four notable nonprofits in the Tahoe-Truckee area have merged together to create one unified organization.

Dubbed the Sierra Community House, the new organization is made up of the Family Resource Center of Truckee, North Tahoe Family Resource Center, Tahoe SAFE Alliance and Project MANA.

“It’s a collaborative relationship (that) has been building over many years. We thought ‘how can we take that to the next level?’” said Paul Bancroft, executive director of Sierra Community House. “Now we won’t have a need for that collaboration because we’ll be one organization.”

Bancroft said the nonprofits will continue to provide the same level of service, just under one name. They hope to increase efficiency across all four organizations by using a shared language and shared staff and administrative team across the agency.

Collectively the organization will now be able to provide hunger relief, domestic violence and crisis intervention, legal counseling, immigration aid and other family strengthening programs.

“We’re taking the strength of every organization and bringing those together into one strong robust social service provider,” said Bancroft. “Someone can come to the organization and only have to tell their story one time; and they’re going to have better access to more services.”

The merge had no negative effect on the employees as they were able to preserve every position. Instead, Bancroft said this will provide an opportunity for employees to be more efficient with projects they are passionate about.

“It’s fairly typical of nonprofits that everybody wears a bunch of hats. This is the opportunity for staff to be able to remove some of the hats they’re wearing and focus on their strengths,” said Bancroft.

Bancroft, who used to run Tahoe SAFE Alliance, said they were only eligible for funding that would aid their specific mission. Not only can they now pool their funding together,but the organization will be eligible for more funding with the expansion of services they provide.

“It’s going to take us awhile to have a clear picture of all the current funding sources,” said Bancroft. “I think it will give us access to new funding stream that we previously didn’t have access to.”

According to a news release, the new organization has received funding from Blue Shield Foundation, SH Cowell Foundation, Tahoe Truckee Community Foundation, Martis Camp Community Foundation, First 5 Placer County, Katz Amsterdam Foundation, Squaw Valley, and all of the board members from the four organizations.

“There’s already interest outside of our area in this project,” said Bancroft. “I think it’s quite remarkable that what we’re doing is being watched from afar.”

The benefits of owning Lake Tahoe property in Nevada

During the past several years a significant percentage of the people purchasing property on the Nevada side of Lake Tahoe are relocating from California and other states with high income tax rates.

But it’s not just the favorable business climate and lower levels of personal income and business taxes that are attracting new residents to our community. It’s also the quality of life and all the amenities that are available for property owners to enjoy on a year-round basis that are enticing individuals and families to move to Incline Village.

Property owners in Incline Village are entitled to partake in a broad array of recreational facilities far superior to anything found elsewhere at Lake Tahoe. There are three private beaches, two magnificent golf courses, a modern ski area with a nice base lodge, a 34,000 square foot recreation center, tennis complex, disc golf course, and numerous parks (including one for skateboarding).

You will also discover lots of open space for people and their pets to roam and fantastic hiking and mountain biking trails with some of the best views found anywhere in the world.

High income residents of California are subjected to a state income tax rate of over 13% after the passage of Proposition 30 in November 2012. What this means for the Incline Village real estate market is that many business people every year contemplate whether or not they should remain in California or consider relocating to another state that could provide greater economic benefits.

Housing is much more affordable in Northern Nevada than in most parts of the Bay Area and when coupled with the Tahoe lifestyle it is a very attractive option.

One of the most important things for a business owner to consider is the health and well-being of their employees. If a move to the Nevada side of Lake Tahoe makes sense both economically and psychologically for a particular employer it makes relocating a lot easier for everyone involved.

The uptrend of price increases for Incline Village and Crystal Bay real estate over the past several years has been fueled by a combination of purchases by vacation homeowners and high income California residents looking to relocate to our community for both the economic benefits and quality-of-life advantages.

As long as people feel that moving to the Nevada side of Lake Tahoe has significant benefits, the demand for homes and condos will remain strong.

For the past several years Nevada has been at or near the top of the list for anyone considering moving from a state with a high tax burden and a complex regulatory environment. The Reno-Tahoe area is in close proximity to the major urban centers in California and the Reno airport is one of the most accessible in the nation.

It is only natural that businesses ranging from a salesperson working at home to Google and Tesla are moving some or all of their operations to Northern Nevada.

Other factors that make Incline Village attractive to individuals and businesses relocating from California are the relatively inexpensive cost of electricity, total labor costs and the great variety of housing.

Recreational opportunities are abundant making the Nevada side of Lake Tahoe a great place to work and play.

Don Kanare is the founder and Sabrina Belleci is the owner and broker of RE/MAX North Lake in Incline Village. You can follow their blog at www.InsideIncline.com.