OSCEOLA TUG HILL CROSS COUNTRY SKI CENTER INC.
Saturday MARCH 2, 2019 AT 6pm
Any and all interested parties are invited. Meeting will be held at the ski center.
Purpose: Determining the future of the Osceola Tug Hill Cross Country Ski Center
First and foremost – The ski center is FOR SALE
My wife and I have built and run a very special place to a lot of people.
Our ski center is a profitable business that we have enjoyed running for the past 39 years. While it is still enjoyable, we both feel that we need to have the freedom to spend more time with our family. Not limited to, but especially with the grand kids.
Our guarantee is that the ski center will operate until at least the end of the 2019 – 2020 ski season:
We will start selling next years memberships on March 1, 2019. We have done this the last 10 years to help with summer maintenance cost of the trail system. By continuing this practice we will be able to keep improving trails making the skiing the best we can and making the ski center more viable for the next owners. If health or other circumstances make opening the ski center for the 2019 - 2020 season impossible, all membership monies will be refunded.
At the completion of the 2019 – 2020 season ( without new ownership ) we will make a decision to run for another year or to close. The closing of the ski center is not the option that we or anyone else wants. If we do decide to close the ski center the property would be sold and activity on the property would be determined by new owners. Highest value of property other than a ski center would probably be an out of state snowmobile club.
Options for keeping Osceola a cross country skiing destination:
1) Individual or group buying the ski center outright.
2) Being a corporation, we can sell stock to an individual or group.
The property, business with assets etc. is selling for $497,000.00
We have up to 500 shares of stock without par value available.
Each share or stock would sell for $ 1,000.00. Each share or stock would have one vote on decisions made by ski center. Some of the decisions that need to be made include, who to hire to run ski center, compensation paid to staff, what to charge for skiing and equipment etc.. Decisions can also be made as to benefits to stock holders – examples, free guest passes or memberships to stock holders, dividends paid to stock holder of 1-3%. The board making these decisions can be all stock holders or a limited number of elected individuals. The board could also explore the possibility of taking the ski center into non-profit status as others including Craftsbury in Vermont have done. The only way selling individual shares or stocks works for us is with a minimum of 200 shares sold initially to various individuals or a group.
3) Non-profit status – One of the biggest advantages to a non-profit is the availability of grant monies not available to a for profit business.
4) Exploring the possibility of a Government – State or County to purchase the ski center. As 50% of our skiers come from out of state, we provide a big economic boost to this area. A campaign would need to be put together to let for example the State know that there is a lot of support for acquisition of a ski center by the State in an area that actually gets snow.
5) Contact Colleges or universities to purchase and use our ski center as a working lab for their students.
6) Possible other directions that we can go. Hopefully any other options available can be discussed at the March 2, 2019 meeting.
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Osceola Tug Hill XC Ski
1486 Osceola Rd
Camden, NY 13316
Phone: +1 315 599 -7377