Village at Squaw Valley Redevelopment Update

Olympic Valley, Calif – The Village at Squaw Valley Specific Plan proposal was reviewed by the Placer County Planning Commission on Aug. 11, 2016. The Planning Commission voted 4 to 2 in favor of the Project and will pass that recommendation on to the Placer County Board of Supervisors. The Project is expected to go before the Placer County Board of Supervisors this fall.

Statement from Andy Wirth, president and CEO, Squaw Valley Ski Holdings, LLC: We are sincerely appreciative of the community members, staff, and Placer County Planning Commission for their dedication throughout this process. Through our proposed redevelopment efforts, Squaw Valley Ski Holdings is prepared to significantly invest in the offering at Squaw Valley to position the resort as a true four-season destination, provide more year-round jobs, on-site affordable workforce housing, tens of millions of dollars in other benefits to our local community, and assist in stabilizing the North Lake Tahoe economy.

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

We are pleased with the affirmative recommendation by the Planning Commission, and look forward to the Project proceeding to a vote of the Board of Supervisors this fall.

Project Overview

The Village at Squaw Valley Specific Plan proposes redeveloping and completing the unfinished Village at Squaw Valley to reestablish the resort as a premier mountain resort destination and ensure it has a sustainable future. The project proposes that 90 percent of the redevelopment would happen on existing asphalt parking lots already zoned for development. If approved, it will provide new on-site lodging and recreation opportunities, create more year-round local jobs, offer on-site affordable workforce housing, rehabilitate Squaw Creek, and provide over $22 million in annual tax revenue to help fund public services including schools, road improvements, transit services and public safety. In response to community feedback, the Village at Squaw Valley redevelopment plan has been reduced by 50 percent and is now only 38 percent of what is allowable per the Squaw Valley General Plan and Land Use Ordinance.

Community Benefits of the Squaw Valley Redevelopment Project

• Ensure that Squaw Valley and the North Lake Tahoe region can be competitive in a highly dynamic North American resort market
• Quality and variety of on-site lodging at the base of Squaw Valley creates greater ability for guests to extend their stay and enjoy more of the businesses in the North Lake Tahoe community
• Retain close-proximity day skier parking
• Retain the Member’s Locker Room
• 9-acres of Squaw Creek restored and protected
• 500+ new year-round local jobs supporting tourism that isn’t seasonally dependent
• New on-site workforce housing

Fiscal Benefits of the Squaw Valley Redevelopment Project

• $22M in annual tax revenue generated by redevelopment in Squaw Valley will help fund public services including schools, road improvements, transit services and public safety
• $20M toward transit initiatives
• $150M in new infrastructure, including road, utility and Fire/EMS improvements, and more
• $2M annually to Olympic Valley environmental initiatives
• $6M dedicated to park and recreation planning, including improved hiking and biking trails in Squaw Valley
• $2M annually to help fund Olympic Valley environmental initiatives
• $2M dedicated to the restoration of Squaw Creek

The Village at Squaw Valley Specific Plan proposes redeveloping and completing the unfinished base area Village at Squaw Valley to reestablish the resort as a premier mountain resort destination and ensure it has a sustainable future.

The project proposes that 90 percent of the redevelopment would happen on existing asphalt parking lots already zoned for development. If approved, it will provide new on-site lodging and recreation opportunities, create more year-round local jobs, offer on-site affordable workforce housing, rehabilitate Squaw Creek, and provide over $22 million in annual tax revenue to help fund public services including schools, road improvements, transit services and public safety.

In response to community feedback, the Village at Squaw Valley redevelopment plan has been reduced by 50 percent and is now only 38 percent of what is allowable per the Squaw Valley General Plan and Land Use Ordinance.