278 



/y 



UTAH: 



Deer Valley 



yes 



owns base land, but leases mountain 

 from two separate lessors for 1.25% of 

 net lift revenues (source: letter from ski 

 area) 



Sundance 



yes 



leases land from affiliated corporation at 

 same rate as GRFS formula 



VERMONT (information is from State Forests & Parks Dept. and has also been 

 confirmed with each area) 



7 areas, 5 of which (Killington, Stowe, Jay Peak, Okemo and Smugglers' 

 Notch) are larger size areas, currently operate partially on State land. Lease 

 terms vary significantly, but in general, the rent is 5% of lift ticket sales 

 reduced by the % of lift footage on State land. At at least 1 area only 2.5% 

 of gross is paid on new lifts for the first 5 years. Food, ski shop and ski 

 school revenue is assessed at 2.5% of gross, or 3% of gross if the 

 restaurant/shop is in a State owned building. Ski school revenues are 

 excluded from fee at all areas except Smugglers Notch. 



Vermont leases generally run 60-99 years and guarantee the fee rate for the 

 duration of the lease (i.e. the fee is a contractual item which cannot be 

 changed by the Legislature). The following information summarizes the 

 Vermont picture: 



- Bolton Valley no owns its land 



- Jay Peak yes 99 year lease; State built and owns base lodge, 



parking lots and 0.8 mile road; no fee is paid 

 on ski school revenues 



Killington yes 99 year lease; State built and owns base lodge; 



built, owns, maintains, and plows 1.5 mile 

 access road; State also did part of original trail 

 clearing; no fee is paid on ski school revenues 



