APPRAISAL OF THE
LIQUIDATION VALUE
Mt. Ashland Ski Area
For
City of Ashland, Oregon
OCTOBER 26 2006 AN ORDERLY LIQUIDATION VALUE APPRAISAL OF THE PROPERTY AT THE
MT ASHLAND SKI AREA ASHLAND, OREGON
OCTOBER 26, 2006 i 511 W 22nd Ave. Post Falls, ID 83854 (208) 457-1148 (208) 699-3817 Cell (866) 233-1947 Fax TED FARWELL MAI www.winterstar.us [email protected]
January 3, 2007
Mr. Lee Tuneberg City of Ashland Ashland OR
Re: Appraisal – Orderly Liquidation Value of Mt. Ashland Ski Area Properties
Dear Mr. Tuneberg;
I have prepared an orderly liquidation value appraisal of the Mt. Ashland Ski Area properties in Jackson County, Oregon as requested and authorized by the City of Ashland by form contract dated October 4, 2006. The purpose of this appraisal is to estimate the orderly liquidation value of the Mt. Ashland Ski Area properties, as they existed on October 26, 2006. The properties are entirely located on a 1,180-acre USFS land use permit.
This valuation is dated October 26, 2006. The attached report of 47 pages describes the properties and the appraisal process.
CERTIFICATION
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct. The report analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report. The appraisal assignment was not based upon a requested minimum valuation, a specific valuation, or approval of any proposed financing. My analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. I have made a personal inspection of the property that is the subject of this
i ii report. Mr. Dan Pahl CEA, Mr. John Ellis PE, Mr. Craig Loup and Mr. Ken Olmstead provided significant property appraisal assistance to the person signing this certification. As of the date of this report I have completed the requirements of the continuing education program of the Appraisal Institute.
I have a unique combination of MT ASHLAND SKI AREA professional expertise and experience Orderly Liquidation Value of Property supporting my competency to conduct 26-Oct-06 such a special appraisal assignment. I Orderly have been a consultant to the North Liquidation American ski industry for forty-five years. Asset Value I have designed, built, and operated ski Five Ski Lifts $152,000 Rolling Stock $190,000 areas. In addition, I am a professional Inventories $105,000 appraiser and have prepared some 120- Generators (4) $24,000 ski area appraisals over the past 27 Waste Water Treatment $40,000 years. My detailed resume is attached. Portable Buildings (5) $11,500 Furniture & Fixtures and $150,200 It is my opinion that the orderly Maintenance Equipment liquidation value of the Mt. Ashland Ski TOTAL Liquidation Value $672,700 Area properties, as described in the Estimated cost to remove attached report and “as is” on October Ski Lifts ($921,500) 26, 2006 is: Buildings ($243,000) NET TOTAL ($491,800)
$ 672,700: SIX HUNDRED & SEVENTY TWO THOUSAND, SEVEN HUNDRED DOLLARS
The estimate of the major costs to remove the four ski lifts is $921,500. The estimate to remove the buildings is $243,000. Total removal costs are projected at $1,164,500.
This leaves a deficit of $491,800.
Sincerely
Ted Farwell MAI
State Certified General Real Estate Appraiser, State of Oregon Temporary Permit Number –TNR1447
Certified General Appraiser #CGA 722 Certified General Appraiser #CGO 1313626 State of Idaho State of Colorado
ii iii
APPRAISER CERTIFICATION
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct
The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and is my personal, impartial and unbiased professional analyses opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
My analyses, opinions and conclusions were developed, and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice. I have taken the mandatory Uniform Standards of Professional Appraisal Practice class, and thereby have been USPAP certified by the American Society of Appraisers per their re-education program. I am also a member in good standing with AMEA (Association of Machinery & Equipment Appraisers).
I have made a physical inspection of all the assets listed and from that inspection, I have formulated an opinion of value that is the subject of this report.
No one provided significant Professional assistance to the person signing this report.
iii 1
SECTION I
MT. ASHLAND ORDERLY LIQUIDATION VALUE APPRAISAL
PREFACE EXECUTIVE SUMMARY
This is an orderly liquidation value appraisal of the Mt. Ashland ski area property.
A. CLIENT & USER OF THE REPORT:
Mr. Lee Tuneberg City of Ashland Ashland, OR
B. DATE OF THE APPRAISAL:
October 26, 2006
C. DATE OF THE REPORT:
January 3, 2007
D. DEFINITION OF ORDERLY LIQUIDATION VALUE:
A professional opinion of the estimated most probable price expressed in terms of currency which the subject equipment could typically realize at a privately negotiated sale, properly advertised and professionally managed, by a seller obligated to sell over an extended period of time, usually within six to twelve months, as of the effective date of the appraisal report. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets are to be sold on a piecemeal basis 'as is' with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the total assets appraised could change the psychological and/or monetary appeal necessary to gain the value indicated.
E. DEFINITION OF EXTERNAL OBSOLESCENCE:
Used facilities and equipment suffer both physical deterioration and functional obsolesce. They may also suffer a decrease in market value due to external obsolesce. The Appraisal of Real Estate twelfth edition describes External Obsolesce as:
A temporary or permanent impairment of the utility or salability of an improvement or property due to negative influences outside of the property. (i.e. market conditions)
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 2
F. PURPOSE OF THE APPRAISAL:
The purpose of this appraisal is to estimate the orderly liquidation value of the Mt. Ashland ski area properties herein described, as they exist on October 26, 2006. This estimate is in support of the terms of the Mt. Ashland Ski Area Lease where the lessee is required to maintain a “Minimum Liquidation Value” for the leased property.
G. SCOPE OF THIS APPRAISAL:
The scope of this appraisal is to inspect the property, consider market characteristics and trends, collect and analyze pertinent data, and develop a conclusion about the property’s liquidation value. The nature of this assignment precludes use of either the income or cost approaches to value. Sales comparison is the primary approach used. The specific methodology of data collection and analysis, verification and valuation is detailed within this report.
Winterstar Valuations, Inc. has put together a team of experts to inspect and evaluate the existing assets to determine the most probable liquidation value if sold on the date of inspection, and removed.
Our procedure is to first identify all of the assets with potential value upon ski area closure, next to inspect each piece of equipment for its condition and finally prepare an estimate of its value in place prior to removal. In the case of assets that require significant costs to remove (ie: ski lifts - buildings) we have estimated such removal costs.
We anticipate that the major items will be the ski lifts, the grooming and other vehicles, the rental skis, snowboards, the wastewater treatment plant and the 275K generators.
We anticipate that small items such as furniture, fixtures, tools, computers, office equipment, etc. would be offered in bulk or at auction. Where items are routinely offered in used equipment sales outlets, and a used value can be supported, the item was evaluated.
No capitalized costs for planning and/or environmental studies have any liquidation value.
The balance of this report is divided into three sections.
Section II discusses the potential liquidation of the five ski lifts. It includes a chairlift removal cost estimate.
Section III discusses the potential liquidation value of the rolling stock.
Section IV discusses the potential liquidation value of the balance of the properties. It includes an estimate of the costs to remove the buildings. MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 3
G. SUMMARY OF FACTS AND CONCLUSIONS:
1. The five ski lifts have an orderly liquidation value of …………….$152,000
2. The rolling stock has an orderly liquidation value of…………….. $189,700
3. The inventories have an orderly liquidation value of…………….. $103,100
4. The balance of the properties have an orderly liquidation value of $227,800
5. The total orderly liquidation value of all city property used by the lessee, Mt. Ashland Associates, as of October 26, 2006 is…………………... $672,600
6. The estimated cost to remove the four fixed ski lifts is……………. ($921,500)
7. The estimated cost to remove the buildings is……………………..($243,000)
8. The estimated costs to remove the ski lifts and buildings exceeds orderly liquidation value by…………………………………………….……… ($491,900)
H. RANGE OF CERTAINTY:
It should be realized that these are estimates of liquidated values to be realized via distressed sale and/or auction and should reasonably be expected to vary +/- 10%. In addition time will also cause variances as these assets continue to depreciate, and market conditions change.
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 4
SECTION II
MT. ASHLAND LIQUIDATION VALUE APPRAISAL
SKI LIFTS Inventory:
Mt. Ashland has the following ski lift equipment. Mr. John Ellis PE inspected all lifts on November 8, 2006.
Valuation: Ski Lifts
The Mt. Ashland Ski Area includes two old and essentially obsolete ski lifts and two more recent smaller lifts. The orderly liquidation value estimate shown below is for the ski lift equipment as if removed and sitting in the parking lot ready to load on a truck. MT ASHLAND SKI LIFT EQUIPMENT INVENTORY
LIFT IDENTIFICATION #1 #2 #3 #4 #5 NAME Ariel Windsor Sonnet Comer Pinocchio DESCRIPTION Ski Lift Type DC DC TC TC WR Manufacturer Riblet Yan Riblet Riblet Bruckschlogl
Year Installed 1964 1978 1987 1987 2001 Top Elevation 7,533 7,080 6,751 6,688 Portable Base Elevation 6,445 6,350 6,650 6,350 Lift Length (feet) 2,960 2,035 872 1,280 152 Vertical Rise (feet) 1,088 730 101 338 17 Slope Length (feet) 3,153 2,161 877 1,285 152 Capacity (PPH) 1,080 1,200 1,200 1,800 600 VTF/hour (000) 1,175 876 121 608 10 H.P. 150 30 75 4 Rope Speed (ft/min) 500 500 305 400 200 Rope Size (inches) 1.250 1.250 1.125 1.125 16mm Number of carriers 110 81 39 64 N/A Number of towers 19 N/A 6 9 0 USEFULL LIFE (Years) 40 40 40 40 40 REMAINING LIFE (Years) (2) 12 21 21 35
Orderly Liquidation Value $10,000 $25,000 $60,000 $50,000 $7,000
Mr. John Ellis PE filed the following report. Copies of the original lift specifications are attached.
Please note that discussions with Mr. Ellis subsequent to his report revealed that filling terminal columns with concrete is/was normal construction procedure to help anchor the terminal. MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 5
Outback Construction, Inc. Ashland, Oregon
November 30, 2006
Re: Chairlift Removal @ Mt. Ashland, Oregon
The following proposal submitted to Ted Farwell for the removal of the chairlifts at Mt. Ashland, Oregon with removal work being performed by Outback Construction, Inc. This proposal and work scope is subject to approval by the U.S. Forest Service, Mt. Ashland Ski Resort and any other concerning parties involved in this decision to remove the equipment from the ski resort property. Prices are based on current rates and ideal construction conditions to include access to all terminal sites with cranes and equipment to remove terminal structures. Towers shall be removed with helicopters where cranes or other conventional methods of removal cannot be used. Prices are based on the understanding that the equipment shall be removed, disassembled and transported to the ski area parking lot where others will be responsible for final transport and removal from ski area property. Concrete foundations shall be blasted and/or jack hammered to “below grade” appearance using a rock breaker implement mounted on a spyder hoe and the use of two stroke powered jackhammers/drills.
Prices do not include removal of electrical infrastructure and/or transformers, buried and overhead power lines associated with the chairlifts.
Double fixed grip beginner chairlift / Riblet $ 85,100.00
Triple fixed grip chairlift / Riblet $113,500.00
Double fixed grip chairlift / Yan $135,200.00
Double fixed grip chairlift / Riblet $147,100.00
Helicopter cost / tower removal $183,500.00
Foundation removal and blasting fees $257,050.00
Total estimated cost $921,450.00
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 6
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 Mt Ashland Ski Lift Appraisal
By: John Ellis P.E. – Aerial Engineering Inc. Inspection date: 11-8-06 For: Winterstar Valuations Inc.
Background:
Mt Ashland currently has 4 chair lifts and a wire rope tow. The lifts are comprised of the following. · “Arial” - 1964 Riblet Double · “Windsor” - 1974 Yan Double · “Comer” - 1987 Riblet Triple · “Sonnet” – 1987 Riblet Triple · “Pinocchio” - 2001 Bruckschlogl GMBH tow
On November 8, 2006 I reviewed the maintenance records and rode Sonnet, Comer and Windsor with Woody of Mt Ashland. We drove to the bottom and top of Arial. The handle tow was still in pieces and was in the process of being set up. All the lifts appear to be in a good state of repair. The lifts have been upgraded and maintained systematically as will be shown in the specifics for each lift. This report contains the following information. · Current pictures for each lift. · A list of upgrades and enhancement to each lift. · Values of each lift sitting in the parking lot ready to load. · The original spec sheets for each lift.
Please note the dates on the pictures are not correct.
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 1/7 11/21/2006 Mt Ashland Ski Area Sonnet Chair lift
Top Ilder Terminal Tension -Drive Terminal
Lift Line
Drive Components
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 2/7 11/21/2006 Mt Ashland Ski Area Comer Chair lift
Top Idler Terminal Bottom-Tension Drive
Lift Line Drive Components
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 3/7 11/21/2006 Mt. Ashland Ski Area Windsor Lift
Top Idler Terminal Bottom-Tension Drive
Drive Components
Lift Line
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 4/7 11/21/2006 Mt Ashland Ski Area Arial Lift
Top Tension Terminal Bottom-Drive Terminal
Drive Components
Lift Line
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 5/7 11/21/2006 Mt Ashland Ski Area Lift Specifics
Sonnet Lift - 1987 Riblet Triple · New haul rope installed in 1989 · The tension-drive rear column is filled with concrete preventing it from being reused if the lift was relocated. This decreases the lift value as a new column would have to be fabricated if the lift was put up somewhere else. · Lift averages about 1200 hours per year
Comer Lift - 1987 Riblet Triple · New haul rope installed in 1989 · Motor rebuilt in 2006 · APU engine rebuilt in 2001 · The tension-drive rear column is filled with concrete preventing it from being reused if the lift was relocated. This decreases the lift value as a new column would have to be fabricated if the lift was put up somewhere else. · Lift averages 1200 hrs per year
Windsor Lift – 1974 Yan Double · New Comline in 2006 · Bottom Operator’s house upgrade in 2006 · New Electric Drive 2002 · Motor rebuild 2004 · The columns for the terminals are filled with concrete preventing them from being reused if the lift was relocated. This decreases the lift value as new columns would have to be fabricated if the lift was put up somewhere else. · Since 1984 lift averages 1300 hrs per year
Arial Lift – 1964 Riblet Double · New haul rope in 1983 · Towers have original line machinery with cable catcher up grade · New chairs and chair clips were installed in late 1990’s · The tension bullwheel have been upgraded with a stationary shaft. · A new service brake pump unit was installed in 2004 · Lift averages 800-900 hrs per year
Rope Tow – 2001 Bruckschlogl GMBH · Nothing to report
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 6/7 11/21/2006 Mt Ashland Ski Area Lift Valuations
Arial Lift - Lift sell Price around $10,000
· Comparisons - 1972 Riblet double chair sold for around $25,000. in 2006 · Comparisons – 1974 Riblet triple chair sold for around $35,000 in 2005 The draw backs for the Arial lift are the age, style of line machinery and style of tower crossarms.
Windsor – Lift sell price around $25,000.00
The asking price for a 1978 Yan Triple in 2004 was $80,000. This lift was twice the horsepower as Windsor and was a triple vs. a double. I have no record that this lift actually sold.
Sonnet – Lift sell price around $60,000
· A small 1969 Hall 1402 double chair in Colorado sold for $25,000 in 2006. It is similar in size to Sonnet.
Comer – Lift sell price around $50,000
· The draw back for Comer is the style of drive enclosure.
Pinocchio Rope Tow – sell price around $7,000.00. This price is based on conversations with the manufacture regarding pricing of used tows.
If you have any questions please let me know. Again these sell prices are based on the lift sitting in the parking lot ready to load on a truck.
Respectfully yours,
John C Ellis P.E. (Project Engineer)
F:\Projects\Ski Ashland\Mt Ashland Lift Appraisal.doc 7/7 11/21/2006 16
SECTION III
MT. ASHLAND LIQUIDATION VALUE APPRAISAL
THE ROLLING STOCK Inventory:
Mt. Ashland has the following mobile equipment. Mr. Ted Farwell MAI inspected all vehicles on October 26, 2006.
MT. ASHLAND SKI AREA LIQUIDATION APPRAISAL ROLLING STOCK INVENTORY
Slope Grooming Equipment Manufacturer Year Model Hours Attachments Condition Rebuilt at Bombardier 2002 TW 275 5,360 12 way Quickblade Excellent 5,360 hrs Terrain Master Tiller Tower Winch Bombardier 1994 400 13,700 12 Way Blade Good 7,800 hrs C- bar Flex Tiller Bombardier 2001 SR 275 6,870 12 way Quickblade 5,500 hrs Terrain Master Tiller Good LMC 1983 3700-C 20,000+ 10 Way Blade Good twice LMC 1986 3700-C 20,000+ Anchor & Winch Fair Heavy Equipment Kawaski 1986 Z-80-II 9,800 Bucket Loader Good John Deere 1967 350 N/A Long-Wide Track Good once Crawler with Backhoe and Six way Blade Utility Vehicles Polaris 2003 Ranger 1,248 6x6 Excellent Polaris 2006 Sportsman 40 4x4 New Susuki 1983 N/A 4x4 Fair Dodge 2001 Ram-350 24,682 15 Pax - Van Good Transmission Dodge 1994 Ram-350 98,198 15 Pax - Van Good Dodge 1979 Ram-350 247,462 Open - Van Fair Dodge 1976 Power Wagon 131,210 Club Cab Good
Pictures of each vehicle except 1 LMC 3700 and 1 van are included on the following pages.
MT. ASHLAND PROPERTY 16 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 17
Slope Grooming Equipment:
1994 Bombardier 400 2001 Bombardier SR 275
2002 Bombardier TW 275 1986 LMC 3700 C
Heavy Equipment:
1986 Kawasaki Loader Z-80-II 1976 JD Long-Wide Track Crawler
MT. ASHLAND PROPERTY 17 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 18
Utility Vehicles:
2003 Polaris 6x6 Ranger 2006 Polaris 4x4 Sportsman
1983 4x4 Susuki 1976 Dodge Power Wagon
1979 Ram Van – Open 1994 Ram Van – 15 Pax
MT. ASHLAND PROPERTY 18 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 19
Valuation: Slope Grooming Vehicles
There is an active market for used slope grooming vehicles The table below lists seven recent sales as reported by resortboneyard.com. Hugh Knapp, an active dealer in used ski area lifts, equipment and parts, sold most. Mr. Knapp confirmed these prices. Hours Price Condition Year Equipment
9,000 $30,000 Very Clean 1996 Piston-Bully 280D 8,800 $20,000 Well Maint 1983 Piston-Bully PB-170D 7,613 $23,500 Excellent Cond 1994 Piston-Bully 260 Snowcat 4,600 $65,000 2002 Bombardier BR-275 2,600 $45,000 1998 Bombardier BR-180 1,941 $57,500 Very Good 2003 Bombardier BR-275 1,320 $107,000 Very Clean 2000 Bombardier BR2000
I have related hours to selling price, as shown on the chart below, and find that the hours explain some 65% of the price variation. Basically, A clean zero hours, used vehicle starts at $87,551 and, all other considerations being equal, each 1000 hours of operation drops the used value by $7,422.
SNOW GROOMING EQUIPMENT y = -7.4221x + 87751 R2 = 0.6541 $120,000
$100,000
$80,000 e c i $60,000 r P
$40,000
$20,000
$0 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Hours
MT. ASHLAND PROPERTY 19 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 20
Hours since Indicated Rebuilding Value
1994 Bombardier 400 5,900 $43,961 2001 Bombardier SR 275 1,300 $78,102 2002 Bombardier TW 275 0 $87,751
Mt. Ashland Property- Orderly Liquidation Value Appraisal Slope Grooming Vehicles
Year 2002 1994 2001 1983 1986 Mfg. Bombardier Bombardier Bombardier LMC LMC Model TW-275 400 SR-275 3700-C 3700-C Hours 5,360 13,700 6,870 20,000+ 20,000+ Condition Excellent Good Good Source for parts Hours since rebuilt 0 5,900 1,370
Nominal value $100,000 $40,000 $80,000 Less: External Obsolescence $35,000 $25,000 $40,000 Liquidated Value $65,000 $15,000 $40,000 $4,000 $8,000 Estimate Source: Resort boneyard.com & Hugh Knapp
While this result seems logical, I have no information concerning the dates of these sales and discussion with Mr. Hugh Knapp owner and principal of Knapp Associates, dealers in used snow grooming equipment, reveals the impact of a current over supply of Bombardier grooming machines due to Bombardier’s leasing program during the nineties. The used market has been flooded with some 250-300 such vehicles, thus depressing the prices received. Returned leased Bombardier snowcats are being sold for $25,000 to $35,000. Mr. Knapp stated that realistically he would have to heavily discount the above-indicated values to allow for the depressed market. This is logically external obsolescence.
The 2002 rebuilt Bombardier TR 275 includes a state of the art tower winch and should therefore be afforded an orderly liquidation value of $100,000. According to Mr. Knapp the external obsolescence will bring it’s orderly liquidation value down to $65,000.
In my judgment the 1994 Bombardier 400 should be further discounted due to its age in spite of the fact that it has been rebuilt, which would logically mean $40,000. According to Mr. Knapp the external obsolescence will bring it’s orderly liquidation value down to $15,000.
The 2001 rebuilt Bombardier SR 275 should be afforded an orderly liquidation value of $80,000. The external obsolescence will bring its orderly liquidation value down to $40,000
MT. ASHLAND PROPERTY 20 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 21
The two LMC 3700C models have primary value for spare parts as no new parts are available. Mr. Knapp quoted $4,000 for the 1983 model and $8,000 for the 1986 model.
Valuation: Utility Vehicles
Utility used vehicle values are assembled and reported by N.A.D.A., the Kelly Bluebook, and other on-line operators. The following values were extracted from their web pages.
Mt. Ashland Property- Orderly Liquidation Value Appraisal Utility Vehicles
Vehicle 15 Pax Van 15 Pax Van Open Van PU Truck ATV 4x4 ATV 6x6 ATV 4x4 Year 2001 1994 1979 1976 2006 2003 N/A Mfg. Dodge Dodge Dodge Dodge Polaris Polaris Susuki Model 3500 3500 3500 Power Wagon Sportsman Ranger Mileage 24,682 98,198 247,462 131,210 Hours 1,248 40 N/A Avg Trade-in Excellent $9,450 $1,850 $500 No Quote Good $8,830 $1,575 $425 Vehicle $5,200 $5,715 Fair $7,765 $1,095 $300 too old or Avg. Retail $13,180 $4,060 $1,430 $5,910 $4,530 $2,000 Source: NADA Guides & Kelly Bluebook Liquidated Value $11,000 $3,000 $500 $300 $5,900 $4,500 $1,500 Estimate
1979 DODGE SPORTSMAN B300 15 Passenger Van VIN# B36JE9K372519 Mileage: 247,462
1979 models are not quoted any more unless they are restored. The latest quote is for 1986-year vehicles.
The other two vans are in excellent condition and therefore I estimate would bring something between average trade-in and retail value
1994 DODGE LE MAXIVAN B350 15 Passenger Van VIN# 2B5WB3520RK162731 Mileage: 98,198 Front/Rear Air Conditioning, Cruise Control
2001 DODGE RAM WAGON 3500 15Passenger MAXIVAN VIN# 2B5WB35Z61K549482 Mileage: 24,682 V8; Automatic; RWD; Front/Rear Air Conditioning; Power Steering, Windows, Locks; Tilt Wheel; Cruise Control; AM/FM Stereo; Cassette; Dual Front Airbags; ABS; Privacy Glass; Alloy Wheels
MT. ASHLAND PROPERTY 21 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 22
The Polaris ATV’s were found on the N.A.D.A. web site and confirmed by a local dealer. The orderly liquidation value estimated is based on the age and condition. The 2006 Sportsman cost $6,200 new and has only 40 hours of operation.
Valuation: Heavy Equipment:
The two pieces of heavy equipment are very unique. Their value is due to their critical need at unknown times. Most ski areas have several such pieces of equipment, generally purchased used as the demand placed upon them is miniscule when compared to their primary role in daily construction. While as used, and obsolete equipment they have value in their role, but very little value on the used equipment market. I could find no quotes on the Internet and in checking with a local dealer found that both pieces are no longer in production. Mr. Jeremy Thomas of H & E Equipment Services estimated $25,000 for the Loader and $4,000 for the Crawler with a $2,000 add-on for the backhoe attachment.
Heavy Equipment
Vehicle Loader Crawler Year 1986 1976 Mfg. Kawaski John Deere Model z-80zII Long-Wide Track Hours 9,800 N/A Vehicle $4,000 Attachments $2,000 Liquidated Value $25,000 $6,000
MT. ASHLAND PROPERTY 22 LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. OCTOBER 26, 2006 23
SECTION IV
MT. ASHLAND LIQUIDATION VALUE APPRAISAL
OPERATING AND MAINTENANCE EQUIPMENT Inventory:
Mt. Ashland has a wealth of additional required operational and maintenance equipment. Mr. Dan Pahl CEA inventoried and inspected all 350 items listed on October 26, 2006.
Valuation:
Pahl Industrial, Inc. filed the following report.
PURPOSE,SCOPE &OBJECTIVE
Purpose The purpose of the appraisal report is to appraise the assets of Mount Ashland Ski Resort Ashland, Oregon. This is a complete summary appraisal report intended for use by Winterstar Valuation, Inc. and the City of Ashland Oregon. Possession of this report by others other than the named parties does not make them an intended user.
SCOPE The scope of this appraisal was a physical inspection of the assets located at Mount Ashland Oregon, and an opinion of values of selected line items totaling $250,000 in Forced Liquidation Value and $347,000 in Orderly Liquidation Value.
Objective The objective of the report is to submit an opinion of value showing the Forced Liquidation Value and Orderly Liquidation Value of the selected assets. The effective date of the appraisal is October 26, 2006.
DEFINITIONS
Forced Liquidation Value (Auction) A Professional opinion of the estimated most probable price expressed in terms of currency, which would typically be realized at a properly advertised and conducted public auction sale, held under forced sale conditions and under present day economic trends, as of the effective date of the appraisal report. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets are to be sold on a piecemeal basis ‘as is’ with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the total assets appraised could MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 24
change the psychological and/or monetary appeal necessary to gain the value indicated
Orderly Liquidation Value A professional opinion of the estimated most probable price expressed in terms of currency which the subject equipment could typically realize at a privately negotiated sale, properly advertised and professionally managed, by a seller obligated to sell over an extended period of time, usually within six to twelve months, as of the effective date of the appraisal report. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets are to be sold on a piecemeal basis ‘as is’ with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the total assets appraised could change the psychological and/or monetary appeal necessary to gain the value indicated. . Economic Obsolescence The loss in value of a property resulting from factors external to the property.
Functional Obsolescence A form of depreciation in which the loss in value is due to factors inherent to the property itself and changes in designs, materials, or process resulting in inadequacy over capacity, excess construction lack of functional utility, excess operating costs, etc.
Physical Obsolescence The loss of value resulting from wear and tear of an asset in operation and exposure to various elements.
METHODS &PROCEDURES
METHODS The appraisal method used in determining value was the market data approach. The income approach was not used in the performance of this appraisal.
The market data approach to value uses comparable sales, dealer listings and interviews with several dealers specializing in the sale of this type of equipment. Adjustments are made to the comparable sales to reflect the age, condition and other pertinent factors of the subject equipment. The market approach has the advantage of taking all forms of depreciation into account, (economic, functional and technological).
PROCEDURES Dan Pahl from Pahl Industrial Inc. conducted a physical inspection of the Mount Ashland Oregon assets on October 26, 2006.
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 25
The appraiser then checked the Pahl Industrial Inc. proprietary comparable sales database, and interviewed certain original manufacturers and used equipment dealers to verify findings. Interviews with certain dealers supplied the appraiser with information on replacement costs for the latest technology and the number of pieces of equipment that have been sold. The dealers indicated the current market conditions and selling prices on the used market.
COMMENTS
EQUIPMENT SPECIFIC COMMENTS
Some of the Machinery & Equipment was operating the day of the physical inspection and company personnel confirmed all Machinery & equipment is in operating condition. Maintenance personnel confirmed regular maintenance procedures are followed. Rental and Retail inventories where consistent with what is normally provided at Ski Resorts. Staff Clothing was adequate and in good condition.
The equipment is of recognized manufacture and common to the Ski Resort Restaurant and Hospitality Industries.
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 26
Mount Ashland Ski Resort Equipment & Inventory Listing
Item Serial No. Qty Description FLV OLV No.
Main Lodge Top Floor
1 27 square tables 125 135
2 20 round tables 100 120
3 137 metal chairs 137 137
4 1 Knotty Pine display case 40 50
5 1 plywood display case 10 15
6 2 sofa's 50 60
7 1 coffee table 4 5
8 1 wood bench 3 5
9 1 wood table 2 3
10 1 wood burning fireplace insert 75 90
11 140 pairs of used Snow Board boots 1,400 1,400
12 assorted boots & binding repair parts in 4 100 120 plastic containers
13 4 fold up tables 80 100
14 1 sled 5 5
15 4 plastic discs 10 12
16 1 office c/w desk chair, computer, file 40 50 cabinet, TV, calculator
17 1 Motorola HT 600 walkie talkie c/w 30 40 charger
18 1 Audio amplifier c/w 2 speakers 20 25
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 27
19 3 jackets 20 20
20 miscellaneous office supplies & books 40 45
21 1 Volunteers & donators wall plaque 40 45
22 1 office c/w desk, credenza, chair 60 70 microwave & shelves
23 1 Panasonic video camera 30 35
24 5 voice activated head sets 75 100
25 asssorted racing bibs 40 45
Third Floor
26 mens washroom - 2 urinals, 1 toilet, 2 20 25 sinks
27 60 lockers 300 420
28 2 drinking fountains 15 20
29 womens washroom 2 sinks, 2 toilets 15 20
30 6 large grey lockers 60 72
31 1 wash bucket 4 5
32 3 microwaves 30 40
33 2 metal cupboards 80 100
34 2 200 amp breaker panels 80 100
35 1 stepladder 35 40
36 1 office c/w desk, chair, computer, printer, 80 100 table & office supplies
Kitchen
37 1 Jet Tec F16 washer 40 50
38 1 Stainless Steel triple sink 60 70
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39 2 4 door wood coolers - 1 c/w beer taps 150 200
40 2 computer cash registers 175 225
41 assorted glasses, pitchers, etc. 250 300
42 1 credit card machine 200 225
43 1 LaCrosse Stainless Steel double sink 100 120
44 1 Cappuccino Machine & coffee maker 40 45
45 105 wood chairs 210 315
46 10 bar stools 50 60
47 1 Panasonic TV & Philllips VCR player 135 160
48 2 snow boards, 3 sets skis & Sleigh 50 60
49 30 square tables 210 300
50 1 bar 100 120
51 pictures & mirrors on wall 75 85
52 9 picnic tables 270 360
53 1 propane heater 200 250
54 1 Mitsubishi projection TV 400 500
55 2 t-bar lifts 50 55
56 2 vacuum cleaners 40 50
57 1 stereo system c/w speakers 30 40
58 1 computer c/w flat screen 70 80
59 3 high chairs 10 12
60 1 Panasonic TV 90 100
61 4 Lawrence vacuum cups 100 120 MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 29
62 assorted pictures & plaques 70 80
63 10 plastic trash cans 30 40
64 1 40' aluminum extension ladder 150 175
65 1 20' aluminum extension ladder 700 80
66 assorted wood counters 100 120
67 1 soda counter c/w valves & controls 250 300
68 2 microwaves 20 20
69 1 hot dog warmer 15 20
70 1 Ortega nacho machine 25 30
71 1 Fresh & Fast model HFD-3A pizza 70 80 humidity cabinet
72 1 True 6' refrigerated display cooler 200 250
Second Floor
73 1 office c/w 2 safes, 2 chairs, 2 computers, 225 250 calculator & printer
74 1 Magner 35 bill counter 40 45
75 assorted office supplies in cupboard 200 225
76 4 ticket printers 200 225
77 assorted blue back racks 20 25
78 2 computer systems c/w cash drawers 250 300
79 3 chairs 20 25
80 1 office c/w desk, 3 chairs & file cabinet 125 140
81 1 office c/w Gateway laptop computer, 400 500 desk, 2 chairs & supboard
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 30
82 1 time clock & card trays 100 120
83 assorted kitchen utensils pots, pans, 400 500 warming trays, etc.
84 6 sections shelving 240 300
85 1 Leer 6' X 6' X 5' walk in cooler 1,000 1,200
86 1 Howard 2 door cooler 5' X 7' X 3' 500 600
87 1 folding bakery cart 100 120
88 1 Imperial deep fryer 100 120
89 1 oxy acetylene regulator 20 25
90 1 20' skate wheel conveyor 50 60
91 1 stretcher 20 25
92 2 wood walk in coolers 1 free standing 175 200
93 1 office c/w 4 drawer letter file cabinet, 300 350 cupboard, microwave, 2 kenwood amps, fax, printer, coffee table, hole punch
94 1 Agilent Heartstream FR2 defibrillator 250 300
95 1 Maxon base station unit 250 300
96 1 laminator 40 50
Kitchen
97 1 Scotsman LM3 icemaker 600 800
98 1 Frigidaire Fridge 60 70
99 1 Lang convection oven 50 55
100 1 microwave on cart 60 70
101 1 Star warmer 20 25
102 1 Thermatic 4 burner gas stove & oven 600 700
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 31
103 1 2' X 4' grill 60 70
104 1 Montague Grizzly grill 100 125
105 2 Superior & Dean deep fat fryers 400 500
106 1 Lincoln impinger toaster 400 500
107 1 Hatco heated holding display cabinet 40 60
108 1 Stainless Steel table 50 60
109 2 Continental 3' prep table 700 800
110 1 MPW Wyott warming tray in stainless 60 70 steel stand
111 1 Aerohot warming tray 150 200
112 1 shelving unit & wash bucket 40 50
113 1 Stainless Steel sink 40 50
114 1 Stainless Steel table 30" X 7' c/w can 100 120 opener
115 1 set Nemco heat lamps 15 20
116 1 double Stainless Steel sink c/w runoff 75 85
117 1 Auto Chlor dishwasher c/w Stainless 300 350 Steel prep sink with runoff
118 1 24" X 72" wood prep table 65 75
119 assorted pots, pans, sieves, cullenders, 200 250 etc. in kitchen
120 1 Ansul fire protection hood c/w charged 500 1,000 fire extinguisher
121 24 square tables 120 240
122 130 metal chairs 130 195
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 32
123 assorted pictures, display cases, etc. on 250 300 second floor
124 2 shelving units 60 70
125 1 Heinz dispenser & napkin dispenser 8 10
126 1 Warming Hut boot & glove dryer 50 60
127 1 fridge & hand truck 75 85
128 2 wood L shaped counters c/w 3 computer 500 600 cash registers
129 1 Powerflite carpet cleaner 100 120
130 2 wood 2 door lateral file cabinet 150 200
131 1 4' prep table 70 80
132 1 6' & 8' wood display cases 350 400
133 1 credit card machine 200 250
134 1 Wittco warming table 350 400
135 1 Powermate air compressor 150 170
136 1 fiberglass aluminum stepladder 50 60
137 3 soda pop cupboards c/w valves, etc. 300 400
138 2 fire hoses on 2nd & 3rd floors 200 250
139 2 200 amp breaker boxes 75 85
Basement
140 102 triple lift chair seat pads 1,530 2,040
141 210 double lift chair seat pads 2,100 3,150
142 48 tower pads 2,400 2,880
143 4 radio base stations 1,200 1,600
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 33
144 25 walkie talkies Kenwood, Motorola, etc 750 1,000
145 72 wood lockers 72 108
146 assorted rubber matting 300 400
147 1 Ariens 1332 snowblower 300 400
148 1 Honda snowblower 250 300
149 1 fiberglass stepladder 35 40
150 1 118 gallon hot water heater 200 300
151 rope, shelves & sinks 40 50
152 4 urinals, 4 toilets, 4 sinks 50 60
153 148 wood lockers 148 220
154 5 toilets, 4 sinks & baby change station 40 50
155 storage area c/w 10 sets of skis and 300 400 bindings, 2 snowboards, cupboard, shelf & promotional items
156 1 compressor on vertical tank 275 300
Maintenance/Storage/Furnace Room
157 1 2006 Avaya IP400 phone system c/w 8,000 10,000 voice mail & 46 instruments,
158 1 credit card machine 200 250
159 1 Meridian phone system 300 400
160 1 Westinghouse 800 amp main electrical 400 500 panel
161 1 Forced air furnace 100 100
162 7 sections shelving 125 140
163 1 1 horsepower compressor on tank 250 300
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 34
164 assorted power & hand tools in 800 1,000 maintenance area
165 ski school room c/w 4 cordless drills, 300 325 desk, cordless skilsaw & printer
166 ski school & events office c/w computer, 350 400 desk, chair, printer, file cabinet, blueprint file & TV
167 Woody & Adas office c/w desk, chair, 450 500 laptop, label machine, heater, 2 - file cabinets & printer
168 Kids Club room c/w fridge, sink, locker, 200 225 vacuum TV & VCR
169 50 Helly Hansen fleece vests 250 300
170 4 Dermizax coats 320 360
171 3 vacuums & floor polisher 150 170
172 1 Craftsman table saw 175 200
173 64 wood lockers 64 64
174 1 small table saw 50 60
Ski Rental Building
175 2 Snowboard & ski racks 250 300
176 3 boot drying racks 500 600
177 1 Craftsman chop saw 150 175
178 7 wood work stations 35 40
179 assorted rubber floor mats 300 400
180 5 sections shelving 250 300
181 1 rolling staircase 175 200
182 1 aluminum stepladder 25 30
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 35
183 1 200 amp electrical box 40 50
184 1 vacuum, wash bucket, mops, shovels, 125 150 etc.
185 lunchroom c/w fridge, microwave, tables, 175 200 chairs, etc.
186 1 office c/w desk, chair, file cabinet, laptop, 700 800 desktop, printer & chair
187 1 office c/w desk, chair & copier 60 70
188 1 new furnace 150 200
189 2 rolls fence netting 70 80
190 2 urinals, sink & toilet 15 15
191 2 toilets 2 sinks 15 15
192 1 10' X 40' ski repair trailer 4,000 5,000
193 1 Grindrite ST600 grinder 1,500 2,000
194 1 Laser Straight ski grinder 100 125
195 1 Grindrite edger 250 300
196 1 Grindrite ST490 waxer polisher 800 1,000
197 1 filing bench 125 150
198 assorted power & hand tools 400 450
199 1 Tokomat waxer 75 100
200 2 40' ship containers 3,000 4,000
201 1 Convault 2,000 gallon fuel tank 1,500 2,000
Shop
202 1 42' X 60' metal frame metal clad 1,000 1,500 maintenance shop building
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 36
203 1 used oil tank 100 125
204 1 parts washer 200 250
205 1 eye wash station 50 60
206 1 oil cart & 2 pumps 70 80
207 1 Craftsman tool box & tools 300 350
208 assorted power & hand tools on wall 800 1,000
209 3 work benches & vise 250 300
210 1 jib crane c/w hoist 200 250
211 1 model 6006 battery charger 60 70
212 1 Milwaukee grinder 40 50
213 1 Duracraft pedestal drill press 200 225
214 1 Parker Phastkrimp hose crimp machine 800 1,000
215 1 cut off saw 60 70
216 1 Darex drill bit grinder 350 400
217 1 portapower 200 225
218 1 non destructive magnetic particle tester 200 225
219 1 bench & vise 70 80
220 1 Enerpac PEM2021 hydraulic pump 400 500
221 1 30 ton fully adjustable shop press 300 350
222 1 oxy acetylene set on cart c/w bottles 225 250
223 1 pressure washer 250 300
224 1 gas barbecue 20 25
225 1 creeper, hand truck, masking paper rack 60 70 MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 37
226 1 floor jack 125 150
227 8 adjustable floor stands 160 180
228 1 Miller Dialarc 250 welder 350 450
229 1 Ingersoll Rand 5 horsepower model 30T 600 700 compressor on tank
230 1 Johnson model J bandsaw 250 300
231 1 Thermal Dynamics Cutmaster 38 plasma 400 500 cutter
232 1 oxy acetylene cart c/w bottles 100 125
233 1 Lincoln SP100 welder 500 600
234 1 Raetone flammable cabinet 150 175
235 1 dual light stand 60 70
236 assorted steel in rack 250 300
237 15 tires 300 350
238 stores inventory including Bombardier 2,000 3,000 parts
239 3 gas weed eaters 300 360
240 shop office c/w desk, chair, laptop, chair, 350 400 sofa, file cabinet & fridge
241 2 Stihl chainsaws 500 600
242 1 Kato 60 kilowatt gen set p/w Detroit 353 3,500 4,000 engine 208/240 volt, 2049 hours
243 assorted pilons, signs, etc. 250 300
244 1 fuel tank & pump 175 200
245 1 8' X 16' trailer c/w file cabinet, desk, 2,000 2,500 chair, laptop & chair
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246 1 Knaack model 4824 tool box 150 200
247 14 lift evacuation kits 1,500 2,000
Lift shop
248 1 office c/w 2 desks, 3 chairs, 2 200 225 microwaves, fridge, tiaster, TV, etc.
249 1 transformer & 200 amp main panel 150 175
250 assorted parts for lift 1,000 1,200
251 1 Craftsman tool box and tools 400 500
252 assorted snow maintenance tools 600 700 including rakes, shovels, fencing, etc.
253 1 Scott welder generator 300 350
254 1 Sears battery charger 25 30
255 1 Honda HP3500 generator 200 250
256 1 Lincoln 225 amp welder 200 250
257 1 Oxy Axetylene set c/w bottles 200 250
258 1 vacuum 20 25
259 1 bench & vice 40 50
260 assorted power & hand tools 700 800
261 1 bench grinder 65 75
262 1 6 ton chain hoist 125 150
263 1 Tirfor comalong 40 50
264 2 comalongs 150 1,785
265 assorted chain slings, wire rope slings, 400 500 pulleys, etc.
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 39
266 1 stereo system 20 25
267 1 hydraulic lift cable detensioner 1,500 3,000
268 assorted tires & sheaves for Riblet chair 3,000 3,500 lifts plus assorted Yan Sheaves
269 1 Kamag 60 KW generator p/w Perkins 4,000 5,000 diesel 240/480 volt - 926 hours
270 2 spare tower lights 100 120
271 assorted light fixtures 100 120
272 elctrical switchgear 200 225
273 assorted fasteners 200 250
274 assorted wire rope, and parts for lifts 2,000 2,500
275 1 Yan grip tester 350 400
276 assorted climbing harnesses 400 500
277 assorted snow fencing in start gate 400 500
278 1 Aluminum frame start gate 500 600
279 1 Aluminum picnic table 100 125
280 4 ladders 250 300
Waste Water Treatment Plant
281 1 YSI 550DO probe 500 600
282 1 Oakton stable temperature oven 350 400
283 1 model 13B microscope 250 300
284 1 Hach DRB 200 c/w Hach DR 890 1,000 1,200 colorimeter
285 1 Parmer Ph meter 70 80
286 1 Ohaus scale 700 800
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 40
287 1 Sequential Batch reactor Waste Water 20,000 40,000 Treatment plant c/w Fluidyne controls and instruments
288 1 GE 75 KW generator p/w 471 Detroit 5,000 7,000 diesel - 97.5 hours
289 99128 1 Hitemetaloy Snow Turbo Snow Park Half 15,000 18,000 Pipe Grinder
290 6 racks - 3 snowboard, 3 ski 1,000 1,200 308 1 Power Systems 275 KW generator c/w 6 6,000 8,000 cylinder Cummins 120/208 volt - 475 hours
309 8 tires 200 250
310 1 Convault 4,000 gallon fuel cell 1,500 2,000
Miscellaneous On Site Items and Retail & Rental Inventory
311 approximately 75,000 FBM of timbers in 10,000 15,000 main lodge
312 Electrical wiring throughout the facility 3,000 5,000
313 12 12" X 8" X 60' light poles and 68 Genlyte 5,000 6,000 lights & 10 new style Rudd lights
314 Rental Snow Board Binding inventory - 6,000 9,000 $18,418 cost
315 Rental Snow Board Inventory - $34,654 10,000 15,000 cost
316 Rental Snow Board Binding Inventory - 7,000 10,000 $24,000 cost
317 Rental Helmet Inventory - $3,500 cost 1,000 1,500
318 Rental Ski & Bindings Inventory - 20,000 28,000 $52,463 cost
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 41
319 Rental Ski Boot Inventory - $36,133 cost 7,000 10,000
320 Rental Pole Inventory - $3,063 cost 1,000 1,500
321 Used Coats Spyder & Helly Hansen - 224 8,960 13,440 total
322 Used Pants - 51 pair 750 1,250
323 Used Fleece vests - 227 total 2,270 3,405
324 New Retail inventory of eyewear, gloves, 7,000 10,000 goggles, hats, masks, helmets, outerwear, shirts, sunglasses, etc. - $14,581 cost
On site Total 236,807 330,868
Ashland Office
291 Reception area c/w reception desk, 5 900 1,100 chairs, computer, 2 printers, radio, charge card machine, pictures, easel, etc.
292 2 boxes of trade show displays 500 600
293 Utility office c/w desk, chair, camera, 800 1,000 laptop, desktop, printer
294 1 Fargo DTC 510 Season pass printer 1,300 1,600
295 Human Resource office c/w desk, 3 450 600 chairs, 2 file cabinets, bookcase, printer
296 Storage room, shelving, vacuum, etc. 150 200
297 miscellaneous office supplies 400 500
298 miscellaneous xmas supplies 150 200
299 1 Fridge 40 50
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 42
300 Development Directors office c/w 2 1,400 1,800 laptops, desktop, servedr, printer, stereo, 2 chairs, desk, file cabinet
301 2 paper shredders 80 100
302 open office area c/w fax, cupboard, 1,200 1,500 postage machine, printer, desk, 2 tables, etc.
303 1 Canon NP6030 photocopier 750 1,000
304 Rick Saul office c/w desk, 2 chairs, 1,300 1,600 printer, 2 file cabinets, safe, laptop
305 conference room c/w 2 tables, computer, 1,200 1,500 printer, 4 file cabinets, whiteboard, 11 chairs, TV,
306 Paulines office c/w desk, 3 chairs, 600 750 credenza, file cabinet, printer, computer
307 Mike & Mica's office c/w 2 desks, 4 1,700 2,200 chairs, printer, laptop, desktop, bookcase, file cabinet, projector for Power Point presentations
Grand Total 249,727 347,168
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 43
ESTIMATED BUILDING REMOVAL COSTS:
We asked Western States Environmental Services Inc. to provide a proposal to remove all of the building structures at the Mt. Ashland Ski Area. Their proposal was faxed on January 3, 2007.
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006 44
MT ASHLANDPROPERTY LIQUIDATION VALUE APPRAISAL WINTERSTAR VALUATIONS, INC. & PAHL INDUSTRIAL, INC. OCTOBER 26, 2006
PAHL INDUSTRIAL, INC. WINTERSTAR VALUATIONS, INC. DAN PAHL CEA TED FARWELL MAI
STATEMENT OF CONTINGENT &LIMITING CONDITIONS
This appraisal is based on a physical inspection of the on site assets listed and information supplied by Mount Ashland Ski Resort personnel, which Winterstar Valuations and Pahl Industrial deemed to be reliable and accurate. No warranty is or will be given as to the accuracy of the information provided by others.
No research regarding ownership and/or the existence of any actual encumbrances or liens was undertaken, nor was Winterstar Valuations, Inc. or Pahl Industrial Inc. requested to perform such work.
The purpose of the appraisal report is to assist the City of Ashland in determining the value of the equipment.
This equipment is valued under the premises that it was maintained to industry standards and operating within manufacturer’s specifications at the effective date of the appraisal. There was no consideration given for the effect any environmental hazards may have on the value of the equipment.
Market conditions do change regarding this type of equipment. Winterstar Valuations, and/or Pahl Industrial Inc. accepts no responsibility for changes in the market conditions, and no obligation is assumed to revise the Appraisal to reflect conditions, which occur subsequent to the effective date of this Appraisal. Any such change could render the appraisal and its conclusions invalid.
It is understood that this appraisal will be a matter of public record for use by the City of Ashland Oregon.
No right to testimony by Winterstar Valuations, Inc. and/or Pahl Industrial Inc. concerning this report is granted unless previous arrangements have been made.
LIMITATION TO LIABILITY In all events and circumstances, Winterstar Valuations, Inc. and Pahl Industrial Inc. maximum liability for any and all damages of any type or nature claimed by any person in connection with this engagement of Winterstar Valuations, Inc. and Pahl Industrial Inc. or the report shall be the fee actually paid to and received by Winterstar Valuations, Inc. and Pahl Industrial Inc. under this engagement letter. 1
511 West 22nd Avenue Post Falls, ID 83854 (208) 457-1148 (208) 699-3817 Cell (866) 233-1947 Fax www.winterstar.us
PROFESSIONAL QUALIFICATIONS OF TED A. FARWELL, MAI - MBA
Ted Farwell MAI has prepared over 125 ski resort appraisals of some 86 separate resorts in both the USA and Canada. These valuation assignments have varied from one of the largest most successful North American resorts to several bankrupt operations that had only salvage value left. We have worked for ski resort owners, commercial banks, governments, and both the FDIC and the Resolution Trust Corp. We have had assignments to review other appraisers work, and to allocate the purchase price between land, hard assets and intangibles. This appraisal expertise was a natural extension of Ted Farwell’s forty-five years as a ski area consultant, when in the middle seventies Farwell studied appraisal and earned the professional designation MAI (Member Appraisal Institute).
Professional Membership:
Member - Appraisal Institute (MAI #6798) 1983-Present
Certified General Appraiser - State of Colorado (#ACO 1313626) - State of Idaho (CGA 722)
Senior Member -American Society of Appraisers (ASA) (Real Property -Urban) 1970-1980 Treasurer, Denver Chapter- 1974/75 Secretary, Denver Chapter- 1975/76 Vice President, Denver Chapter - 1976/77 President, Denver Chapter - 1977/79
Member -National Ski Areas Association 1977 -1996 Economic Study Committee
Ted Farwell MAI Resume – 11/27/2006 2
Awards: Elected to Colorado Ski Hall of Fame 1992 Elected to National Ski Hall of Fame 1992 University of Denver Athletic Hall of Fame 1999
Education: New York State College of Forestry 1948-50 University of Denver, B.S.B.A. 1957-59 Stanford University, M.B.A. 1959-61 Completed American Institute of Real Estate Appraisers' Courses: - Capitalization Theory & Technique - Investment Analysis - Urban Properties - Market Analysis - Advanced Rural Case Studies - Federal Land Exchanges & Acquisitions - Highest & Best Use & Market Analysis - Condemnation Appraising - Advanced Sales Comparison & Cost Approaches Attended seminar of the Real Estate Appraisal Foundation: - Real Estate Analysis Awarded MAI designation #6798 - Dec. 14,1983
Professional Responsibilities:
General Chairman: ASA Denver Chapter Sponsored Recreational Properties Appraisal Symposium
Instructor: Appraisal of Ski Areas-ASA Sponsored Symp. Appraisal of Ski Areas - Appraisal Institute of Canada National Conference Publications:
“The Appraisal of Ski Areas,” Valuation, Vol. 23, #2; American Society of Appraisers; Oct/Nov 1976
“The Appraisal of Ski Areas,” AIM, Vol. 26, Book 3, August 1982 Appraisal Institute of Canada
"Fair Market Value”, Ski Area Management, Vol 32, #2, March 1993
“Measuring Ski Area Value”, Ski Area Management, Vol 33, #2, March 1994
Ted Farwell MAI Resume – 11/27/2006 3
Experience: Employment: Winterstar Valuations, Inc, President (2002 - ) Ted Farwell & Associates, Principal (2001-02) Ted Farwell & Associates, lnc, President (1972-01) Group Delta Consortium, Partner (1975-95) Stratton Corporation; V.P. Mountain Operations (1984-85) Lake Catamount Project; Planning Director (1973-75) Denver Olympic Committee; Technical Director (1970-72) Sno-engineering Inc.; Vice President (1968-70) Director of Research (1961-68) Franconia College; Director of Business Prog. (1963-64) USAF Jet & Helicopter Pilot (1951-57)
Board of Directors: Loon Mountain Recreation Corporation (1965-70) Black Hills Chairlift Co. (Terry Peak) (1986-92)
Scope of Assignments: Physical Site Evaluation Ski Resort Appraisals Ski Area Design & Layout Snowmaking Feasibility Economic Feasibility Studies Supply/Demand Analysis Master Planning Investment Analysis Skier Market Research & Analysis Sales Forecasting
Specific Ski Resort Appraisals: Hidden Valley, Estes Park, CO (with Jerry Moore, MAI, SRPA) 1976 Greek Peak, Cortland, NY (with Dave Schwaner, MAI, SRPA) 1977 Skyline Basin, Dayton, WA – Bluewood Ski Area 1977/03 Bridger Bowl, Bozeman, MT 1978 A-Basin, Dillon, CO 1978 Hogadon Ski Area, Casper, WY 1978 Kirkwood Ski Resort, Kirkwood, CA 1979 Buena Vista Ski Area, Bemidji, MN 1979 Snowbasin Ski Area, Ogden, UT 1980/82/84 Mt. Reba/Bear Valley Ski Resort, Bear Valley, CA 1980 Orchard Site, Collingwood, ONT 1980 China Peak (Sierra Summit), CA (Review) 1980 Pike’s Peak Ski Area, Colorado Springs, CO 1980/83 Sleeping Giant Ski Area, Cody, WY 1981
Ted Farwell MAI Resume – 11/27/2006 4 Dodge Ridge Ski Area, Pinecrest, CA 1981 Bristol Mt. Ski Center, Bristol, NY (With Dave Schwaner, MAI, SRPA) 1981 Geneva Basin Ski Area, Grant, CO 1982/92 Rio Costilla Ski Resort, Costilla, NM 1982/90/91 Bromley Mountain, Manchester, VT (Purchase Price Alloc.) 1985 Sugarloaf Ski Resort, Carrabassett, ME 1985 Big Mt. Ski Resort, Whitefish, MT 1985/92/94 Stratton Mt. Ski Resort, Stratton, VT 1985 Tory Mountain, Harmon, WV (with Bruce Closser, MAI) 1985/86 Arizona Snow Bowl, Flagstaff, AZ 1981/2002/04/06 Fairfield Snowbowl, Flagstaff, AZ 1986/90/92 Mt. Hood Meadows, Portland, OR 1986/2002 Caberfae Ski Resort, Cadillac, Ml (Land Value only) 1987 Terry Peak Ski Area, Lead, SD 1987/2002 Snowshoe Resort, Snowshoe, WV 1987/94 Silver Creek Ski Area, Granby, CO 1987 Lake Louise Ski Resort, Alberta, CAN 1988/93/96/2000 Telluride Ski Resort, Telluride, CO 1988/92 Sunshine Village, Banff, ALB, CAN 1988 Tenney Mt. Ski Area, Plymouth, NH 1989 Elk Meadows Ski Area, Beaver, UT 1989/91/93 Grand Targhee Ski Resort, Alta, WY 1990 Ski Sunlight, Glenwood Springs, CO 1982/90/91/93 Burke Mt. Ski Resort, East Burke, VT 1990 Mt. Cranmore Ski Resort, North Conway, NH 1991/93 Snowy Range Ski Area, Centennial, WY 1991/95 Schweitzer Mt. Ski Resort Sandpoint, ID 1991/92/03 Fortress Mt. Ski Area, Kananaskis, ALB, CAN 1991/2000 Vail & Beaver Creek Ski Resorts, Vail, CO. 1991 Sunegga Ski Area, Bethany, ONT, CAN 1992 Northstar-At-Tahoe, Truckee, CA 1993 Galena Ski Resort, Mt. Rose NV (Appraisal Review) 1993 Sierra Ski Ranch, Twin Bridges, CA 1993 Grouse Mountain, Vancouver, British Columbia, CAN 1994 Mt. Spokane, Spokane, WA 1994/97 Waterville Valley Ski Area, Waterville Valley, NH 1994 Moffat Tunnel Land, Winter Park, CO 1995/96 Beaver Mountain, Logan, UT 1995/97 Snowbird Ski Resort, UT 1995 USFS exchange for Base Lands, Grand Targhee, WY 1995/2000 Preliminary Valuation of Blue Mt, PA 1996
Ted Farwell MAI Resume – 11/27/2006 5 Deer Mt Ski Area - Leased Lands, Lead S.D. 1996 Powder Mountain, Eden UTAH (Understanding of Value) 1996 Preliminary Valuation of the Powderhorn Ski Area, CO 1997 Mike Wiegele Helicopter Skiing, Blue River, B.C., CAN 1997 Silver Star Mountain Resort, Vernon, B.C., CAN. 1997 Paoli Peaks Ski Area, Paoli, IN 1997 590-Acre Tract for Base Lands, Brundage Mt., ID 1998 Nakiska Ski Area, ALB, CAN. 1999 Kimberley Ski & Golf Resort, B.C., CAN 2000 Fernie Alpine Resort, B.C., CAN. 2000 Wintergreen Ski & Golf Resort, ALB, CAN. 2000 Mt. Bachelor Ski Resort, Bend, OR 2002 Mission Ridge Ski Area, Wenatchee, WA 2002/03 Solitude Mountain Resort, Solitude UT 2002/06 Kelly Canyon Ski Area, Idaho Falls, ID 2002 Stevens Pass Ski Area, Skykomish, WA 2003 49 Degrees North Ski Area, Chewelah, WA 2003/06 Chestnut Mountain Resort, Galena, Ill 2003/05 Morningstar Lodge at Silver Mt., Kellogg ID 2005 Echo Mountain Snowboard Park, Idaho Springs, CO 2005 Taos Ski Valley, Taos Ski Valley, New Mexico 2006
Special Projects
Allocation of the purchase price of 13 ski area sales to measure the fair market value of the public and private land for the USFS Washington office Mr. Paul Tittman, ARA, Chief Appraiser- 1992/1993 Breckenridge, CO (2 sales) • Steamboat, CO • Monarch, CO Eldora, CO • Grand Targhee, WY • Jackson Hole, WY • Brighton, UT • Heavenly, CA • Goldmine, CA • Bromley, VT • Wildcat, NH Sierra Ski Ranch, CA
Analysis of the feasibility of ski resort development on Nevado de Toluca, Mexico
A Master Plan for the development of the Nasan Country Club Ski Resort in Pochoun, Korea
Analysis of Lost Opportunity for the Cypress Bowl Ski Area, North Vancouver, B.C., Canada
A Master Plan for the development of the Kosciusko Thredbo Ski Resort - NSW, Australia
Ted Farwell MAI Resume – 11/27/2006 6 A Business Plan in support of the purchase of the Grand Targhee Ski & Summer Resort, Alta, Wyoming
A Terrain Capacity Analysis & Conceptual Ski Resort Design for the Powder Mountain Resort, Eden, Utah
Representative List of Clients: Government: United States Forest Service, USDA Economic Development Administration, USDC Area Redevelopment Administration, USDC Farmers Home Administration, USDA New Hampshire State Planning Project New York State Office of Planning Coordination Wyoming Economic Development Department Canadian National Parks Service Ministry of Culture & Recreation, Province of Ontario Province of British Columbia Travel Alberta, Province of Alberta Atlantic Canada Opportunities Agency, Province of New Brunswick Federal Deposit Insurance Corporation Resolution Trust Corporation Washington State Parks & Recreation Commission Moffat Tunnel Commission Governor’s Office of Planning - State of Utah Industry Trade Organizations: National Ski Areas Association Midwest Ski Areas Association Private Organizations: Loon Mountain Recreation Corp.; NH Waterville Company; NH Madonna Mountain Corp.; VT Burke Mountain Corp.; VT Windham Mountain; NY Mount Sutton, Ltd.; Quebec, Canada Camp Fortune; Ottawa Ski Club; Quebec, Canada Boise Cascade Co.; NC Winter Park Recreation Assoc.; CO L.T.V. Recreation Development; CO Pleasant Valley Investment Co.; CO The Woodmoor Corp.; CO Jackson Hole Ski Corp.; WY Mt. Ste. Marie, Ltd.; Quebec, Canada
Ted Farwell MAI Resume – 11/27/2006 7 Blue Mountain Resorts; Ontario, Canada Aspen Highlands Ski Co.; CO Attitash Ski Corp.; NH Whitewater Ski Society; British Columbia, Canada Medicine Bow Ski Co.; WY Ski Roundtop Inc. (Now Snow Time Inc.); PA Thredbo Ski Resort; NSW, Australia Mt. Cook Line; Queenstown, New Zealand Ski Venture, Inc., Snowshoe, W\/ Blackcomb Resort; B.C., Canada Leisureland; Auckland, New Zealand Skiing Louise Ltd., Lake Louise, Alberta, Canada Sunshine Village Corp. Banff, Alberta, Canada Searchmont, Sault Ste. Marie, Ontario, Canada Ski Wentworth, Wentworth Valley, Nova Scotia, Canada Big Valley Co., Alta, WY Fairfield Communities, Little Rock, AR Camelback Ski Corp, PA ARCO Real Estate, Los Angles, CA. Powder Mountain Resort, UTAH MIG Corp, Seattle WA Taos Ski Valley, NM Financial Institutions: GEICO Financial Services Inc., Denver, CO Colorado National Bank, Denver, CO Occidental Nebraska Federal Savings & Loan, Omaha, NE Central Bank, Grand Junction, CO Hilco, Bedford, NH First Interstate Bank, Laramie, WY US Bancorp Mortgage Appraisal Services, Seattle, WA Bank of America, Phoenix, AZ First Interstate Bank of Nevada, Reno, NV First Interstate Bank of Washington, Seattle, WA Bay Bank, Harvard Trust, Boston, MA Equitable Real Estate Investment Management, Inc., Denver, CO Ontario Development Corp., Toronto, Ontario, Canada Citibank Canada, Vancouver, British Columbia, Canada AT&T Capital, Morristown, NJ Bank of Boston, Boston, MA Bank of Montreal, Banff, Canada Fleet Bank, Boston, MA NCW Community Bank, Wenatchee, WA First Western Bank, Deadwood, SD Ted Farwell MAI Resume – 11/27/2006 8 Wells Fargo Bank, California Zions First National Bank, ID/UT National Bank of Arizona, Phoenix AZ Baker-Boyer Bank, Walla Walla, WA Washington Trust Bank, Spokane, WA Dubuque Bank & Trust, Dubuque, IA
Ted Farwell MAI Resume – 11/27/2006 APPRAISER QUALIFICATIONS
Daniel V. Pahl President Pahl Industrial Inc.
EDUCATION, AFFILIATIONS, CERTIFICATIONS &LICENSES Graduate Vancouver Technical School, Vancouver Canada Certified Equipment Appraiser (CEA) as sanctioned by AMEA (Association of Machinery and Equipment Appraisers) – Certificate attached. Certified USPAP (Uniform Standards of Professional Appraisal Practice) practitioner As sanctioned by ASA (American Society of Appraisers) – Certificate attached. Licensed Auctioneer in Oregon, California, Texas, Washington, and Florida. Member TMA (Turnaround Management Association) Member ABI (American Bankruptcy Institute)
INDUSTRY RECOGNITION Expert witness in Litigation Cases Facilitated Executive and Management Improvement Courses Graduate Dale Carnegie Sales Course Conduct numerous gratuities Auctions for Charitable Organizations annually
Experience & Employment History
Feb 2002 – Present Pahl Industrial Inc Owner/President Pahl Industrial specializes in the Appraisal and Liquidation of Machinery and Equipment in a variety of Industries. Machinery and Equipment appraiser for lease transactions, property tax, and Asset based lending purposes. Perform auctions for machinery and equipment in a variety of industries.
Feb 2001 – Jan 2002 Hilco Industrial LLC Executive Vice President Hilco Industrial opened an Industrial Auction and Appraisal business in Chicago servicing a variety of manufacturing industries. My duties for opening this division included: Formulating, developing and implementing a business plan for the disposition of assets Personnel hired and an infrastructure built
April 1975 – Jan 2001 Maynards Industries (1991) Inc. Executive Vice President/Partner Fiscally responsible for the operation and management of the Industrial Division of a $75,000,000 per year Auction, Appraisal and Liquidation business. Instrumental in opening the U.S. operations of this Canadian based company In 1986. Responsible for directing this division in the performance of Auctions, Appraisals and Liquidations Initially in San Francisco and Portland Oregon with eventually expansion including Lansing Michigan, Cincinnati and Monterrey Mexico. Performed and or supervised over 100 Appraisals, Auctions and Liquidations per year. Oversaw complex Appraisals and Liquidations for Pulp and Paper Mills, Mines, Construction Equipment, etc. Established reputable and reliable name recognition for Maynards to Bankers, Asset Based Lenders, Lawyers, CPA’s, Turnaround Professionals and Industry executives Instrumental in developing a business to business “e Commerce” plan for the sale of equipment for long-term strategic partners. Namely General Motors, Boeing, Tower Automotive, Compass Aerospace, etc.
Part of an Executive Business Development team that developed and Implemented strategic trade missions to developing foreign countries in an effort to broaden the customer base for Machinery and Equipment available In North America Designed and implemented an historical data base for the collection and storage of sales data for equipment from a variety of industries. This data base is updated daily and is a key element in determining values for the Appraisal and Liquidation business.
Oct 1970 – March 1975 Airmatic Sales Ltd Sales Manager/Owner Company involved in selling a full line of Pneumatic products and also operated a Full service Machine and Fabrication Shop. Actively involved in every aspect of this small business, which enhanced the eventual move into the Appraisal and Liquidation field.
April 1964 – Sept 1970 Galbraith & Sulley/Robert Morse Corporation Sales Trainee/Salesmen Progressed from sales trainee to inside sales to outside sales in 1 ½ years with this large industrial firm selling full lines of Pneumatics, Hydraulics, Power Transmission, Material Handling Equipment, Sawmill Equipment which was expanded to include Machine Tools, Construction Equipment and Logging Equipment when the company was purchased by Robert Morse Corporation in 1968. The 8 years spent with these firms was the base of knowledge in a variety of industries that accelerated the learning curve in the Appraisal and Liquidation business.
JOHN C. ELLIS E. 561 Jackson Ave. Spokane, Washington 99207 Phone (509) 483-6181
January 2006
Born: February 28, 1967 Spokane, Washington
Marital Status: Married - 1991 Three children - Son and Two Daughters
Education: B.S. Civil Engineering, Gonzaga University, Spokane Washington - 1989
Registration as a Professional Engineer in the state of Washington and Utah
Memberships: American Society of Civil Engineers National Society of Professional Engineers Organization International Transportation by Rope, (N.A.C.S.) American Welding Society
Experience: Aerial Engineering, Inc. 1989 to present. Duties include: project engineering working on all facets of aerial rope-way design and inspection from handle tows to jig back tramways. Worked with Doppelmayr USA , providing design and construction engineering on over 10 detachable and fixed grip lifts. Project engineer on over 25 lift relocation projects involving the following lift brands; Riblet, Lift Engineering, Doppelmayr, CTEC, Heron-Poma and Borvig. Shop manager for Superior Tramway Co.; which is a subsidiary of Aerial Engineering. This facility has a full machine and welding shop, supplying parts for the ropeway industry; specializing in rebuilding used lifts.
Hobbies: Fishing, hiking, motorcycling, golf, camping.