Incorporate Olympic Valley (IOV) was created in 2013 as a non-profit corporation as a way for Olympic Valley to gain control of its own future. Olympic Valley, or Squaw Valley as it is widely known, is currently under the jurisdiction of Placer County.

“Incorporate Olympic Valley was formed in 2013 by Squaw Valley residents concerned about maintaining their mountain culture and gaining local authority and jurisdiction over land use decisions, locally generated tax revenues, and key services prioritized locally, such as snow removal, road maintenance, and parks & recreation.” -IOV

The bulk of the opposition to incorporation comes from a non-profit group called “Save Olympic Valley.” Save Olympic Valley has come under scrutiny for contributions it has  received from Squaw Valley Ski Resort, which come to well over $120,000.

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In 2014 the IOV paid $85,000 to have a fiscal analysis drawn up, in order to determine whether or not a new town would be financially solvent. The fiscal analysis initially showed that the town would not be able to support itself, though that stance came under fire shortly thereafter.

The IOV ended up having to pay $125,000 to have the state controller review the initial fiscal analysis. As reported by the IOV, the state controller’s office found 18 errors in the original analysis. In fact, according to the most recent review, an incorporated Olympic Valley would have positive net results and a general fund balance exceeding $15 million by the year 2025.

Miles Clark skiing the powder at Squaw Valley This is what the fight's all about...if that snow were green. skier: Miles Clark photo: Hank Devre
Below is a press release from the IOV:

For Immediate Release – November 3, 2015 – Olympic Valley, California

Last week, the California State Controller’s Office (SCO) released its review of the Draft Comprehensive Fiscal Analysis (Draft CFA) for the proposed town of Olympic Valley. The SCO’s report confirms that the draft CFA contained many flaws, leading to incorrect conclusions, and formally reversed its erroneous assumptions and conclusions.

The SCO reviewed 31 separate issues with the draft CFA, reversing conclusions on 18 of them. Application of the SCO’s responses in a quantitative analysis by Incorporate Olympic Valley (IOV) shows a dramatically changed financial picture for the town, with positive net results and growing general fund balances, exceeding $15 Million by 2025, even after yet-to-be-negotiated revenue neutrality payments to Placer County.

“IOV is excited and energized by the feedback and perspective from the State Controller’s Office, who validated the majority of concerns raised in our request to have the draft CFA reviewed”, said Fred Ilfeld, Chairman of the Incorporate OV Foundation. “The results clearly demonstrate that the proposed town of Olympic Valley is financially viable.”

The SCO’s review document can be viewed at: http://www.incorporateolympicvalley.org/wp-content/uploads/2015/10/State-Controller-Review-Report.pdf

IOV has documented the impact of the SCO decisions in a letter to LAFCO’s Executive Officer. The letter and analysis for LAFCO can be viewed at: http://www.incorporateolympicvalley.org/wp-content/uploads/2013/11/Lafco-Letter_SCO-Report_11-3-15.pdf

IOV welcomes the SCO mandated changes that clearly demonstrate financial viability. IOV analysis was developed in consultation with financial experts at Municipal Resource Group, whose 28 team members include former city managers of three newly incorporated cities, municipal planning directors, former police chiefs and other seasoned veterans on town municipal finance and administration.

“With the SCO’s reversals on key issues in the draft CFA, revised data and analysis reveals positive net revenue and growing general fund equity balances. The bottom line demonstrating financial viability is unequivocal.” said Tom Sinclair, Principal Consultant, Municipal Resource Group.

IOV looks forward to work by LAFCO staff and CFA contractor RSG to apply the SCO’s review to a comprehensive revision of the CFA, setting the stage for revenue neutrality negotiations based on the corrected financial analysis. “Opponents of incorporation saw what they wanted to see in the SCO review, not what the decisions and numbers clearly show.” said Fred Ilfeld.

With financial viability confirmed, attention now shifts to the Environmental Impact Report (EIR). “IOV has proven the new town’s financial viability. Now we need the whole community to step up with contributions to cover EIR and associated expenses which are expected to exceed $200,000. Having been forced to spend precious funds on the SCO review, it’s now essential that donors add their financial support to the cause.” said Ilfeld.