GM’s Corner: IVGID board to address Parasol proposal | SierraSun.com

GM’s Corner: IVGID board to address Parasol proposal

Steve Pinkerton

On April 27 in this column, I asked the following question: Back in 2000, what local nonprofit community foundation has spent nearly $14 million creating and maintaining a nonprofit center on land leased from IVGID (Incline Village General Improvement District)?

Answer:  The Parasol Tahoe Community Foundation (PTCF).

I'm guessing that many of you were able to answer that question. With a big assist from the D.W. Reynolds Foundation, PTCF was able to construct their two-story, 31,500-square-foot building just to the south of our ball fields.  

As we all know, times change and the needs of our community change as well. This past spring, PTCF approached the district about modifying their lease arrangement with us. They currently pay just $1 a year for their 2.36 acres, and in return they operate a nonprofit center consistent with the terms in the ground lease.

They [PTCF] currently pay just $1 a year for their 2.36 acres, and in return they operate a nonprofit center consistent with the terms in the ground lease.

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PTCF is interested in focusing more of their energies on their core mission, which is functioning as a nonprofit public charity dedicated to supporting service agencies in the Lake Tahoe region.

They would like to shift both monetary and financial resources, which are dedicated to brick and mortar functions, and dedicate those resources to their core mission. Freeing up these resources would increase the amount of financial support that PTCF could provide to the region.

Under this scenario, they would no longer serve as the landlord for the Donald W. Reynolds Community Non-Profit Center. They would financially support their grantees instead of granting them space. Consequently, they would no longer meet the land use requirements of the ground lease.

PTCF requested the district engage in a dialogue wherein the use of the building improvements would be shifted to the property owner (IVGID), and the lease would be modified to reflect this new arrangement.

PTCF would like to remain as a tenant in the building, and has offered to assist IVGID in facilitating access for service agencies to the shared-use facilities in the building. While PTCF would also like a portion of the building to continue as a nonprofit center, space in the building could be used by IVGID for their programming and office space needs.

As part of the lease modification, PTCF would like to receive adequate consideration for the remaining life of the building improvements. By tapping the value of the building improvements, PTCF would have additional resources to provide to community nonprofits.

IVGID is in the process of assessing its programming and facility needs via the Community Services Master Plan. Both the current plan and the previous plan, which was adopted in 2000, identified the need for more programming space and district office space.

The PTCF proposal could potentially be a very cost-effective means to address IVGID's current deficiencies for both programming and office space.

In response to this request, IVGID has performed an extensive amount of due diligence assessing the financial and operational feasibility of the proposed lease modification.

The results of all of the due diligence will be reviewed by the board of trustees at their upcoming meetings. The next board meeting is on Tuesday, Aug. 22, at 5:30 p.m. at the Chateau.

If you'd like to review all of the information for yourself, we've reserved a space on our webpage where you can review all of the documents, reports, business plans, drawings, deeds, and studies.

Just go to https://www.yourtahoeplace.com/ivgid/resources/ptcf-modification-request.

And as always, if you have any comments or questions about the proposal, please email me at sjp@ivgid.org.

"GM's Corner" is a recurring column from IVGID General Manager Steve Pinkerton, who discusses issues and offers updates regarding various district matters. He may be reached for comment at sjp@ivgid.org.