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Show THE PARK RECORD www.parkrecord.com SATSUNMONTUES JULY 3-6, 2004 A-19 BUSINESS EDITOR: Monika Guendner 649-9014 ext 110 businessparkrecord.com Briefs HOA takes back lease on conference center Nutraceutical acquires Montana Big Sky brand Nutraceutical International Corporation has announces that it has acquired the Montana Big Sky brand of nutritional supplements by purchasing selected assets of Montana Naturals, .Inc., a Delaware corporation. The Montana Big Sky brand focuses on specialty bee products, prod-ucts, including bee pollen, royal jelly and propolis. The purchase price was approximately $600,000 in cash. Based on estimated adjustments for certain customers and product sales, . 2003 pro-forma net sales by Montana Naturals were . approximately $900,000. The transaction closed on June 7. Eastman joins Van Cott's legal team '-) The law firm of Van Cott, Bagley, ',' Cornwall & McCarthy ha9 announced ; that Mary Ann Eastman has joined ? the firm as the new Park City office I manager and legal assistant. "? " Eastman came to Utah . from ; Connecticut, where she worked as the production editor for Snow ; Country magazine. After several ; business trips to Park City for photo ; shoots, she and her husband pur-, pur-, chased property in Heber . City and ; relocated in 1997. She has worked in the legal industry for the past three years, most recently as an office man- ager and legal assistant for the law firm of Easterly & Kelson. , Phil Marchant and Dan Limb All West receives award All West Communications is the ;. recipient of the prestigious 2004 Best of State medal for excellence in wired telecommunication services. The . Best of State Awards recognize outstanding out-standing individuals, organizations and businesses that exemplify innov-- innov-- ative thinking and dedication in pro-; pro-; viding services to the citizens of Utah.' . , Nominees were judged in three categories: 1 . achievement and differ-entiation differ-entiation in the field of endeavor, 2. t innovation or creativity in approaches, techniques, methods or processes, . and 3. contribution to improving the ; quality of life in Utah. Prospector Square Lodge and Conference Center reopens under new management and works on future By MONIKA GUENDNER Of the Record staff It looks the same and has the same name, but changes at the Prospector Square Lodge and Conference Center lurk beneath the surface. As one of Park City's largest conference confer-ence facilities, Prospector Square has changed management after a difficult winter win-ter season and an on-going legal battle that pitted homeowners against each other. As the summer season begins, however, the conference center will continue to host groups and meetings, offer pool and hot tub amenities and strive to remain a viable part of the community. Now, however, it will do so under the watch of the new board of management of the Prospector Square Condominium Association of Unit Owners, the property's proper-ty's homeowners association, and its consultant con-sultant and site manager John Sands. Sands will oversee the maintenance and housekeeping of the common areas and help to host some of the large groups booked for the summer. Sands was the general manager of Prospector Square once before - from 1988 to 1990 - when the property was under the management of Village Resorts Inc. Front desk services will not be available and, for now, the condominium hotel will not be run as a hotel, said Sands. Room information and reservations are being referred to off-site property management companies. The HOA has been working on getting the building cleaned and landscaped since taking over operation, said Sands. It has begun to work on a long-term remodeling master plan for the building as well. The conference building, which was built in 1976, is very functional and in good shape overall, said Sands. The Prospector Square Condominium Association of Unit Owners, which owns the conference building, is taking over operations after a history of third-party or associated parties having that responsibility responsibili-ty and source of revenue. The HOA leased the conference center to Park City Hotels, which then subleased the center to property management company. com-pany. High Mountain Properties. Jim Gaddis and Sam Williams, two multi-unit property owners and long-time HOA board members at Prospector Square, are also owners of Park City Hotels. In February, when High Mountain declared bankruptcy. Park City Hotels regained responsibility of the conference center and common areas. The company laid off the front desk staff at the end of the season and closed the doors to the conference con-ference center and pool. The HOA was able to take back the sublease from Park City Hotels and reopened the conference centers doors around May 18, said Sands. "At the end of March, the homeowners association negotiated a contract to reopen the conference center ... We worked with Park City Hotels to be able to keep the conference center open," said Sands. Several returning groups had already booked the facility this summer, and the homeowners wanted to honor their reservations. reser-vations. The size of the groups and the length of their stay also have a significant impact on the local economy, Sands pointed point-ed out. The Prospector Square conference center cen-ter is a distinctive property due to its size. The facility contains a 350-seat theater room and 10 additional 'break out' rooms, or smaller conference rooms. As a more affordably-priced property than Stein Eriksen Lodge, it allows a group such as the 300-member Institute for Advance StudyPark City Mathematics Institute to stay in Park City for most of July. The conference center has already booked reservations for the fall through the Sundance Film Festival and into February, said Sands. The conference center is also a source of revenue for the HOA. but currently the income is used to cover the costs of maintaining main-taining the building, rather than turning a profit, said Sands. "There's a concerted effort to maximize this facility," said Sands. According to Sands, after the High Mountain bankruptcy, owners of rental units using that property management company took one of three approaches -they either withdrew their units from the nightly rental market, with some of them turning units' into long-term rentals; they enlisted the help of other property management man-agement companies or they waited to see how the situation would play out. Nightly rentals are an important facet of the neighborhood's identity, with close to half of the 323 units associated with a rental pool and property management companies. Real estate sales have also been active in the past few months as buyers have taken advantage of depressed prices, said Sands. He was not able to comment on whether these sales were unusual or higher high-er than in other time periods. The HOA's board of directors is also still evolving. In the March annual meeting, meet-ing, members called for and got the resignation resig-nation of Greg Ottoson. They also called for the resignation of Sam Williams, president presi-dent of the board, who declined to step down. Members elected Stephen Cheek and Miguel Gasca and reelected Gaddis, who was not at the annual meeting. Williams and Victor Sugihara continued their terms as board members. Williams and Gaddis eventually stepped down, leaving a three-member board for the near future, said Sands. He added that the board is actively engaged in replacing the two vacated positions. A lawsuit between some of the homeowners home-owners and Park City Hotels, which include HOA board members Williams and Gaddis, has not yet been finalized, but a resolution is expected soon, said Sands. Although the facility remains open to inquiries. Sands has decided against actively marketing the property until the lawsuit is settled and decisions regarding the nightly room rentals have been decided. decid-ed. The homeowners will then decide whether or not to keep the nightly rentals in its current splintered state, where individual indi-vidual unit owners decide how to rent out their condos: employ a third-party management man-agement company, or create a property management company through the HOA. A likely outcome could he a mix of third-party and HOA management, said Sands. Deep Valley pumps $8 million into improvements By MONIKA GUENDNER Of the Record staff End-of-day congestion around Flagstaff Mountain could be a thing of the past after Deer Valley Resort finishes the addition of the Judge Lift. The new fixed-grip triple chair lift, which will help skiers move off the Flagstaff Mountain and away from the Empire Canyon portion of the resort, is only one part of Deer Valley's $8 million worth of improvements. The resort will add a second lift mov--ing up to the crest of Flagstaff, a detachable detach-able quad chair named The Silver Strike Express. Silver Strike will have two new low-intermediate ski runs accessible from it, as well as additional glading in the area. One run will begin at the midpoint of SilverBuck and head to the bottom of Silver Strike. The second will branch off of Star Gazer and also finish at the bottom bot-tom of the Silver Strike lift. Deer Valley's restrooms in the Snow Park Lodge and Silver Lake Lodge will also get their first makeovers since the resort opened. The facilities will be brightened and made more functional, following the style of the newer Empire Lodge, said English. Sinks will rest in marble countertops and the stalls will receive a new look. Snow Park's bathrooms will be the first to be completed to accommodate the summer concert crowds, according to English. The second level of the Snow Park Ticket office will also undergo remodeling to enhance its operational function, said English. The changes will not be detectable to the resort's guests. Lastly, the resort will replace five older snowguns and add five more guns. The resort will also replace five snowcats and one winch cat with new equipment. In addition to offering more terrain to existing recreational skiers, the new two runs will help the ski school cater to their students by offering more low intermediate intermedi-ate terrain. "The heart of skiing is the intermediate skieEi... -and the future of all sluing is in ; children,". said English. As well as creating the learning-friendly terrain that will be groomed throughout through-out the winter, the resort will thin the trees out in that area, creating even more terrain that attracts young skiers. "You just can't keep them out," said English. The resort has not yet settled on names for the new runs. Approximately 25 more acres of glad-ed glad-ed terrain throughout the resort will be added through this year's improvements, according to English. The trees removed through the process will be dried, split and saved as firewood for the resort's lodges; branches will be run through the chipper and applied to landscaping and stumps will be buried. This year's expenditure surpasses last year's $6 million in improvements, which were mostly concentrated in the expansion expan-sion of the Snow Park Lodge. Deer Valley , has invested nearly $90 million in the resort since the 19901991 season. Bald Mt. Flagstaff Bald EagleN 5" Existing KRISTI R U P E RT PARK RECORD Two new lifts will be added to Deer Valley Resort, Judge and Silver Strike Express. Two new runs will also be added to Flagstaff Mountain, both beginning about halfway up the Silver Strike lift. Name Last Change Nam Last Change Name Last Change Nami Last Chance ALBERTSONS (ABS) 26.26 -.28: FRANKCOV(FC) 270 .10 MITYLITE (M1TY) 17.35 30 QUESTAR (STR) 38.18 -.16 ALTERIS (ATRS) 27.01 -.60 . HEADWATERS (HDWR) 26.06 .13 MYRIADG (MYGN) 14.47 ,45 SCOGROUP (SCOX) 5 40 -.45 AMERSKHAESK) .1300 INTLAUTSYS (IAUS) 1.450 V- NA1RSUN (NATR) 14.15 -.09 SCOTTPWR(SPD 29-09 -.4? BSDMFD(BSDM) 1.800 -.050 ACCERISCOM .700 .080 NOVELL (NOVL) 8.08 -.31 SENTOCP (SNTO) 8 63 .43 CLEARONE (CLRO) 6.00 .50 . INTRAWEST (IDR) .15.95 - NPSPHARMA (NPSP) 20.72 -.28 SKYWEST (SKYW) 16.90 -.51 COMTHERMALfCIO) .1250 - rOMED(IO)fl 2.90 -.02 NUSK1N (NUS) 25.49 .17 SOWS LAIR (LUV) 16.49 -.28 DELTAAIR (DAL) 7.04 -.08 IOMEGA (IOM) 5.28 -.30 NUTRACEUT (NUTR) 21.92 .61 TENFOLD (TENFt 1350 .080 DYNATRONICS (DYNT) 2.17 -.10 KNIGHTTRANS (KNGT) 28.25 -.48 1 -800CONT (CTAC) 14.95 .08 USANAMLT (USNA) 29.63 -1.45 EQUITY OIL (EQTY) 4.59 4M KROGER (KR) 18.00 -.20 OVERSTK (OSTK) 38.04 -1.07 UTAHMED (UTMD) 26 57 .23 EVANSSUT (ESCQ 4.69 -.01 WMBERCLK (KMB) 65.96 .08 P.C. GROUP (PKCY) .0710 -.0040 VAILASSO (MTN) 18 88 -.28 FXENERGY (FXEN) 8.75 -.16- MERfTMD (MMSI) 15.23 -.70 QGOMM INT (QMM) 4.10 -.50 WEIDERNUTR (WNI) 4.64 -.05 Name WELLSrAR (WFCI ZEVEXfZVXI) ZIONSBKCP (ZION) Last Chanoe 66 69 3.29 61,26 .64 05 .19 DOW JONES AVERAGES 30 INDUS 10334.23 -101 .25 20 TRANS 3172.50 -31.81 15UTILS 275.64 -2.25 Some decisions are more enjoyable than others... rl I can make your X Real Estate decisions enjoyable! Call Jeff Coe ... S5 - Your Mountain Real Estate (I fii' Connection rh H 435-647-3223 eel 435-602-2955 4 . I jeffcoeQj688reidre3lestate.com ' Representing buyers, sellers and investors I : I Summer Sale June 28th -jubf $h CoPECMLS Hardware . Shoes Ropes Pads and more Select BiWer Tents 25-40 of Select Sleeping BagsPads - 40 off .:. AI Clothing -20 off Sale prices are cood June 28th July Sth Only! 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