Tahoe Donner News May 2018

THE BUZZ

10

TAHOE DONNER N

E

W

S

ANNUAL REPORT

20

ROADMAP TO THE ELECTION

KEY DATES AND INFORMATION

08

BUSINESS DIRECTORY

16

M A Y

2 0 1 8

Get a magnet Help CLEAN TD

DOG WASTE OK

We love mountain dogs which is why we partnered with a couple of Tahoe Donner homeowners on a simple solution to the dog waste problem within the community. Display a ‘Dog Waste OK’ magnet on your garbage can enclosure to give dog owners permission to deposit their dog’s waste into your garbage. With your help there can now be thousands of waste receptacles in our neighborhood and zero excuses not to pick up after your dog. Stop by Elements’ office at 17356 Northwoods Blvd. to get your free ‘Dog Waste OK’ magnet.

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INSIDE THE REPORT:

THE BUZZ:

02

10

ASSOCIATION UPDATES

EVENTS, DINING+ UPDATES

Message from the General Manager

04

15

PIONEER MONUMENT

Celebrating 100-years of the historic statue and an exclusive TD member tour

Tahoe Donner Programs + Features

12

Covenants Complaints + Enforcement

Clubs Updates

13

06

Dining Hours + Specials

Local Public Agency Updates

15

07

100-Year Anniversary of the Pioneer Monument

Architectural Standards Office Update

08

FEATURES

Roadmap to the Election

10

14

Tahoe Donner Briefs

THE BUZZ

16

Summer amenity openings, dining specials, club activities and more

Business Directory

18

Board Meeting Recap

20

2017 ANNUAL REPORT

Graphical overview of the Tahoe Donner's 2017 audited results and accomplishments

TAHOE DONNER NEWS |

1

VOLUME 19 | NO. 05

MAY 2018

EDITORIAL AND PRODUCTION TEAM CHRISTINA SCHWARTZ

DREW DEURLINGTON

LINDSAY HOGAN

DEREK MOORE

JOE LEWANDOWSKI

AMBER BARRETT

BOARD OF DIRECTORS PRESIDENT | JEFF CONNORS

JCONNORS@TAHOEDONNER.COM

VICE PRESIDENT | JEFF SCHWERDTFEGER JSCHWERDTFEGER@TAHOEDONNER.COM

TREASURER | JEFF BONZON

JBONZON@TAHOEDONNER.COM

SECRETARY | JENNIFER JENNINGS JJENNINGS@TAHOEDONNER.COM

DIRECTOR | DARIUS BROOKS

DBROOKS@TAHOEDONNER.COM

BOARD OF DIRECTORS

BOARD@TAHOEDONNER.COM

POSTMASTER: SEND ADDRESS CHANGES TO TAHOE DONNER NEWS, 11509 NORTHWOODS BLVD., TRUCKEE, CA 96161; (530) 587-9400, FAX (530) 587-9419

EMAIL: COMDEP@TAHOEDONNER.COM ADVERTISING SALES: CREATIVE CONCEPTS MEDIA + MARKETING IS THE EXCLUSIVE ADVERTISING REPRESENTATIVE; PHONE (530) 582-4100 PUBLISHING INFORMATION TAHOE DONNER ASSOCIATION HOLDS THE EXCLUSIVE SERVICE MARK RIGHT TO “TAHOE DONNER.” ANY UNAUTHORIZED USE OF SUCH WILL BE REGARDED AS AN INFRINGEMENT OF THAT SERVICE MARK RIGHT AND IS PROHIBITED. THE INCLUSION OF ADVERTISING IN THIS PUBLICATION DOES NOT CONSTITUTE AN ENDORSEMENT OR RECOMMENDATION BY TAHOE DONNER ASSOCIATION OR ITS BOARD OF DIRECTORS OF THE PRODUCTS, SERVICES, OR VIEWS CONTAINED THEREIN. TAHOE DONNER NEWS (ISSN 1550-6061) IS THE OFFICIAL MONTHLY PUBLICATION OF TAHOE DONNER ASSOCIATION, WHICH IS LOCATED AT 11509 NORTHWOODS BLVD., TRUCKEE, CA 96161.

EACH MEMBERSHIP PARCEL RECEIVES ONE SUBSCRIPTION TO A DOMESTIC ADDRESS. COST TO PRODUCE AND DISTRIBUTE THIS PUBLICATION IS OFFSET BY ADVERTISING REVENUES. PERIODICALS POSTAGE PAID AT TRUCKEE, CA, AND ADDITIONAL MAILING OFFICES. MEMBER LETTERS TO TAHOE DONNER ARE PUBLISHED IN THE MEMBERS SECTION OF TAHOEDONNER.COM, WHERE PUBLISHING GUIDELINES ARE AVAILABLE.

MESSAGE FROM THE

GENERAL MANAGER Included in this month’s magazine is the 2017 Annual Report, a high-level graphical overview of the association’s 2017 audited results and accomplishments. Core to reviewing the Annual Report is understanding how Tahoe Donner is organized and how it operates as both a California mutualbenefit nonprofit corporation and a federal IRS 501(c)(4) social welfare organization.

It also functions as a large-scale common interest development.

Mutual-benefit corporations are organized as nonprofits to mutually benefit their members and advance a common goal – as currently expressed in our Strategic Plan vision statement: Tahoe Donner is a vibrant and desirable mountain community providing attractive and well-maintained facilities, events, programs and leading customer service to its members, guests and the public, all while maintaining accessible and healthy natural surroundings.

With one official class of voting/ownership membership (6,473 property owners) in Tahoe Donner, the community also values the broader inclusion of approximately 25,000 ownership-connected members.

Tahoe Donner is also officially organized, recognized and operates as an IRS 501(c)(4) social welfare organization to promote

social welfare for the common good of the community. “Social welfare” is inherently a complex concept that continues to defy precise definition, but provides a valued defined tax structure for the benefit of the corporation. So, as you review the Annual Report and individual performance of our amenities and support departments, think about our membership-based mutualbenefit and the common good of our community, and know that your board of directors, management team and volunteer committees are all working to deliver meaningful results to achieve our common vision.

Finally, I want to thank Jeff Bonzon as he reaches the end of his three-year term on the board of directors. You have brought the mission and vision of Tahoe Donner to life every day, changing lives and improving this community for the better, forever.

Moving forward, together, I want to express my gratitude to all our board members, team members, volunteers and community partners for all you do. Our partnership and effectiveness for this great community continue to grow.

ROBB ETNYRE | GENERAL MANAGER

SAVE THE DATE

TAHOE DONNER GIVING FUND GIVING FUND

DINNER + AUCTION JULY 11, 2018

Sip. Sa vor. Smile.

4 3RD S O R O PT I M I ST W I N E + RE STAU R A N T FA I R E F U N D - RAISER

SATURDAY JUNE 2, 2018 | 5:00 TO 7:30 P.M. COYOTE MOON GOLF COURSE | 10685 NORTHWOODS BLVD. | TRUCKEE

Wine + Beer Tasting | Souvenir Wine Glass | Music Donated by Garrison Green Culinary Delights Prepared by Area Restaurants + Caterers

SILENT AUCTION WITH ITEMS WORTH THOUSANDS RAFFLE WITH 3 MAJOR PRIZES: $25

$1000 MOUNTAIN HOME CENTER GIFT CERTIFICATE $869 SQUAW VALLEY ALPINE MEADOWS UNLIMITED SKI PASS $500 AMAZON GIFT CARD

$50 ADVANCE | $55 AT DOOR | PURCHASE TICKETS AT: DICKSON REALTY | TRUCKEE CHAMBER OF COMMERCE | TRUCKEE PHYSICAL THERAPY AT THE DOOR OR ONLINE AT WWW.SITD.INFO

For more information, contact winetasting@SITD.info or visit www.SITD.info In compliance with governmental regulations, ID’s with date of birth will be requested at the door.

ANNUAL TRUCKLOAD SALE… STOVES & FIREPLACES

IT’S THE BIGGEST HAUL WE’VE EVER HAD. ENDS MAY 31.

A Fleet of Savings has arrived on Fireplaces & Stoves from Avalon, DaVinci, FireplaceX, and LOPI. Get your custom order at the absolute lowest prices of the year. Orders are taken from May 1 to 31 and arrive by the Truckload — we pass the volume discounts on to you.

Only at our main showroom at 11403 Brockway Road, Truckee • 530.587.6681

FREE LOCAL DELIVERY (within 50 mi radius of Truckee, CA) • PROFESSIONAL INSTALLATION • EXCELLENT CUSTOMER SERVICE

TAHOE DONNER NEWS |

3

THE REPORT

COVENANTS COMPLAINTS + ENFORCEMENT

GET THE SKINNY ON TAHOE DONNER SIGN-UP FOR WEEKLY EMAIL UPDATES AT: TAHOEDONNER.COM/ SUBSCRIBE

By ANNIE ROSENFELD, Tahoe Donner Director of Risk and Real Property

TAHOE DONNER COVENANTS RULES Common rules that frequently result in neighbor complaints and possible citing of violations with fines starting at a minimum of $200 and up to $5,000 to owners include: • Parking vehicles off-pavement, on another person’s property or on access easements is prohibited. Note: Town of Truckee winter parking ordinance prohibits parking on streets Nov. 1 to April 30.

• Noxious activities including noise that is “an unreasonable annoyance or nuisance to neighbor(s)” during quiet hours 10PM-7AM, such as music, barking dogs or late-night partying, are prohibited.

• Pets must be on leash on all association facilities, and must be within voice control on Truckee streets.

• Storage of trailers, furniture, tools and other items must be within enclosed storage areas, not out in the open.

• Trash must be locked within your property’s bear-proof container, never placed in neighbors’ containers or dumped anywhere in Tahoe Donner, and your container must be accessible and free of snow.

• Dumping or leaving “free” unwanted items such as furniture is prohibited.

• Open outdoor fires without screens or covers are prohibited without a permit.

• No fireworks or firearms of any kind.

• Drones are prohibited on Tahoe Donner-owned property, including the trail system and all open space, unless authorized by Tahoe Donner management.

• Private property must be respected by keeping all activities on your property and never using a neighbor’s property without their permission.

• Using resort amenities outside normal operating hours or for unintended purposes (e.g., no sledding at the Downhill Ski Resort) is prohibited.

• No camping on private residences, including in tents, cars, RVs, etc.

This is an abbreviated list of the Covenants Rules. For a complete list, visit tahoedonner.com/covenants.

COMMON COURTESY GUIDELINES Courtesy guidelines are simple good neighbor recommendations. These guidelines are identified due to frequent neighbor comment and complaints.

• Minimize light pollution by installing motion-sensor lights and turning off outdoor lighting after 10PM. • The mountains amplify and carry sounds, so limit noise and outdoor talking after 10PM, and be considerate of your neighbors when hosting parties.

• Whether hiking trails or walking neighborhoods, pick up after your pet and properly dispose in a waste receptacle.

• When driving the 68 miles of roads within Tahoe Donner, obey the speed limit, which is predominantly 25 mph, and always watch out for people and animals.

• Be prepared for severe weather by using appropriate AWD/4WD vehicles and carrying emergency supplies.

For how to make a Covenants Complaint, see page 14.

TAHOE DONNER CONTACTS Area Code (530)

MEMBER COMMUNICATIONS Member Services General Manager

587-9400 587-9431

info@tahoedonner.com gm@tahoedonner.com

587-9460 582-9694 587-9484 587-9444 587-9470 587-9432 587-9443 587-9455 582-9669 587-9413 587-9462 587-9474 582-9672 587-9437

marina@tahoedonner.com bikeworks@tahoedonner.com xc@tahoedonner.com ski@tahoedonner.com equestrian@tahoedonner.com forestry@tahoedonner.com golf@tahoedonner.com lodge@tahoedonner.com pizza@tahoedonner.com troutcreek@tahoedonner.com campground@tahoedonner.com tennis@tahoedonner.com trails@tahoedonner.com troutcreek@tahoedonner.com

AMENITIES Beach Club Marina Bikeworks Cross Country Ski Downhill Ski Area Equestrian Center Forestry Golf Course The Lodge Pizza on the Hill Recreation Hut Campground Tennis Center Trails Trout Creek

ASSOCIATION COMMITTEE CHAIRS Architectural Standards Rod Whitten aso@tahoedonner.com

Finance Art King aiking156@att.net

Covenants Fred Zapponi fzapponi@tahoedonner.com

General Plan Michael Sullivan iceman40@mac.com

Elections Bette Rohrback truckeebette@yahoo.com

Giving Fund Chairman Dick Gander tdgf@tahoedonner.com

ASSOCIATION CHARTERED CLUB PRESIDENTS 9-Holers Women's Golf Shellie Poplin shelliepoplin@gmail.com

Quilt Club Linda Brush sewlinda@aol.com

Bridge Club Pat Callahan mrscallahan36@gmail.com

Rowing Club Dot Mace dotmace@me.com

Equestrian Club Susan Terrell terrellsf@earthlink.net

Senior Alpine Ski Denny Mosher dennymosher@comcast.net

Friends of TD Trails B.R. Levine tdtrails@gmail.com

TD 4-Wheelers Club Bill Ratcliff club@td4wheelers.org

Hiking Club Robin Reese rbtahoe@sbcglobal.net

Tennis Michele Forsberg minkeysf@sbcglobal.net

Junior Golf Club Jean Lai jslai@comcast.net

Women’s Golf Glenda Bradley tahoeglenny@gmail.com

Men’s Golf Keith Williams krwilliams37a@gmail.com

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5

THE REPORT

LOCAL PUBLIC AGENCY UPDATES Upcoming projects will impact Truckee and Tahoe Donner

From road improvements to vegetation management, these regional public agency projects are designed to enhance the community, improve fire safety and increase our quality of life. Stay tuned for monthly updates, and learn more at townoftruckee.com and tdpud.org.

PUBLIC AGENCY CONSTRUCTION + ENHANCEMENTS TO WATCH FOR THIS SUMMER

YARD WASTE + RECYCLING SERVICES KEY DATES TO KNOW

• PAVING + DRAINAGE IMPROVEMENTS: Newly paved streets and improved drainage capabilities.

• AFTER JUNE 30, 2018, the Town of Truckee will stop accepting green yard waste bags. All Truckee residents who opt-in at keeptruckeegreen.org will receive up to three free large carts for yard waste, which will be collected every other week. Additional yard waste disposal services will be offered, including complimentary drop-off at Eastern Regional Landfill.

• SKISLOPE WAY VEHICLE TURNAROUNDS: Two vehicle turnarounds on Skislope Way designed primarily to improve snow removal operations.

• UTILITY DISTRICT VEGETATION MANAGEMENT PROGRAM: TDPUD will focus on Tahoe Donner for tree trimming around powerlines. State and federal regulations have changed significantly, requiring larger clearances and resulting in significantly more tree trimming.

• 2020: In Tahoe Donner, blue bag recycling will continue until 2020, when free carts will be distributed to those who opt-in at keeptruckeegreen.org. For your convenience, blue bags will continue to be serviced at local stores, and two new recycling dropoff locations will be offered to residents in the summer months.

It’s time to bag your bag

Yup, you won’t have to put plastic blue bags on your shopping list anymore. Since they won’t decompose for 100 years, we hope you’ll ditch ‘em. Now, we have something much better for you and the environment.

Please visit KeepTruckeeGreen.org to reserve your free, reusable blue container. Because your trash doesn’t have to be such a waste.

THE REPORT

ARCHITECTURAL STANDARDS OFFICE UPDATE

Let Us Paint So You Can Play!

By SHERYL WALKER, Architectural Standards Office Manager As the building season gets started this year, the Architectural Standards Office (ASO) would like to take this opportunity to remind our members and contractors of some of the requirements for building in Tahoe Donner.

CA Lic 960719

CONSTRUCTION HOURS AND WORK SITE REQUIREMENTS

• Construction start and stop times: Please don’t start too early or work too late. Construction hours are limited to 7AM-7PM Monday through Friday, and 8AM-7PM Saturdays, Sundays and holidays. The upcoming holidays recognized by this provision are Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas.

• Do not park on other people’s property or block the street.

• Deliveries should be made only to the property under construction.

• Be considerate of neighbors and reduce loud noises when possible.

• Please play your music at a reasonable level, not loud enough to be heard over the noise of tools.

• Keep construction sites tidy.

• Store materials and scrap neatly on your property.

• Make sure the required sanitary facilities are on-site prior to construction, and that your employees use them.

If you have concerns about a construction site, please address it directly to the contractor or the owner. Most are more than happy to take care of any concerns quickly and simply. If your concern is not resolved with this approach, please report it to the ASO Compliance Officer at (530) 414-8166, the OneStop owner portal online, or by emailing compliance@tahoedonner.com.

TEMPORARY SNOW SHELTER REMOVAL

Now that the weather is warming and any lingering snow has melted, please remove any remaining snow protection devices (plywood covering windows and entrance ways, etc.). Before storing them, please take the time to put a coat of paint or stain on them to keep them looking consistent with the rest of your house.

EXTERIOR CHANGES

As a reminder, if you are doing any exterior work on your home please call or email the ASO prior to commencement and give us a description of the proposed work. Oftentimes the work is “like-forlike” and a quick call can help us update your file with these notes. If the work changes – such as material or color changes to the exterior of your house or new landscaping to be constructed on your lot – please contact our office to see if a permit is required from Tahoe Donner. Please remind your contractor that all new exterior work, including landscaping projects, requires permits from Tahoe Donner and possibly the Town of Truckee, too.

Call for an estimate today!

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TAHOE DONNER NEWS |

7

THE REPORT

ROADMAP TO THE ELECTION M AY 1

MAY 1 9 MAY 2

Candidate applications are reviewed by Elections Committee and applicants are advised of their eligibility to stand for election.

CANDIDATE’S MEET AND GREET Slate of candidates is announced via e-mail blast and on TD media. Election campaign begins.

6-8PM THE LODGE RESTAURANT & PUB PORCH Come meet the candidates in an informal setting that allows members to ask questions and candidates to articulate their campaign platforms.

MAY 2 4

Election packets are mailed to all eligible members. See Election Process FAQ’s for answers to any questions about receiving, completing and returning ballots.

M AY 2 7

CANDIDATE’S NIGHT FORUM (LIVE STREAM AVAILABLE)

6-9PM NORTHWOODS CLUBHOUSE MEZZANINE ROOM Moderated by the Inspector of Elections.

Make yard work wheel fun.

We can give you piles of reasons why we’re getting rid of green bags.

They won’t decompose for 100 years. They’re flimsy to fill. And it’s easy to run out of them. Please visit KeepTruckeeGreen.org to get your free, durable green container. It’ll be better for your backyard and ours.

JUNE 25 J UNE 2 2

JUN E 9

ELECTION BALLOT MEETING AND REGULAR BOARD MEETING CANDIDATE’S MEET AND GREET

9AM-5PM NORTHWOODS CLUBHOUSE MEADOW ROOM

6-8PM NORTHWOODS CLUBHOUSE GATHERING ROOM Come meet the candidates in an informal setting that allows members to ask questions and candidates to articulate their campaign platforms.

Personally delivered ballots are accepted and replacement ballots are available until 5PM. Government ID is required to vote in person. Deadline for receipt of ballots mailed or personally delivered to the Accountancy Firm is 5PM.

J UNE 2 4

ANNUAL MEETING OF MEMBERS (LIVE STREAM AVAILABLE)

10AM-12PM NORTHWOODS CLUBHOUSE

If the 25% quorum is not met at the June 24 meeting, the Annual Meeting will be reconvened for the purpose of concluding the election in accordance with a reduced 15% quorum requirement.

Personally delivered ballots are accepted until 11:30AM with valid government ID. As soon as the election Election results will be results are certified by the announced prior to the end Inspector of Election, the of the meeting, providing results will be announced a quorum of the voting and posted at Northwoods power of the association is Clubhouse, distributed via reached (25%). If not, meeting member e-mail blast and adjourned to June 25. published in the TD News.

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TAHOE DONNER NEWS |

9

THE

BUZZ EVENTS. DINING. UPDATES. BIKEWORKS

TENNIS

SCHEDULED OPENING FRIDAY, MAY 25

SCHEDULED OPENING MONDAY, MAY 7

Conditions permitting.

PREP YOUR BIKE

Get your bike ready for the season with a basic tune-up that includes checking and tightening all fasteners, adjusting brakes and shifting, minor wheel true, adjusting hubs and headset, and chain lubrication for just $69.

For other work, bring your bike in or call (530) 582-9694 for an estimate.

Conditions permitting.

CLINIC SCHEDULE

The 2018 clinic schedule is set and play dates are slated to begin on Saturday, May 12. Clinics include Cardio Tennis, Ladies Drill and Play, Mini Camps and more. For descriptions, times and registration info, see tahoedonner.com/tennis.

WEEKLY PLAY

Don’t stress about making calls or finding a fourth – just show up and leave the organizing to us.

TUESDAYS, 9-11AM Men’s Day

GOLF COURSE SCHEDULED OPENING FRIDAY, MAY 25 Conditions permitting.

SEASON PASSES ON SALE NOW

Golf season passes are on sale now.

Purchase a season pass by May 15 to lock in the best rates of the season and receive special perks, including discounted guest golf passes.

KERI OBERLY

TUESDAYS, 5-7PM 3.5+ Ladies’ Night (Member $4, Guest $6, includes refreshments) WEDNESDAYS, 5-7PM 4.0+ Men’s Night (Member $4, Guest $6, includes refreshments) FRIDAYS, 9-11AM Ladies’ Day SUNDAYS, 9-11AM Mixed Doubles Day

MEMORIAL WEEKEND SEASON KICKOFF SUNDAY, MAY 27

Kick off the season with an exciting afternoon of team tennis followed by a potluck BBQ and social gathering.

Round Robin: 2-5PM BBQ/Potluck: 5PM Cost: Tennis Club Free, Member $10, Guest $16

10TH ANNUAL NTRP TOURNAMENT JUNE 1–3

The NorCal branch of the USTA has designated this a Gold Cup event in all divisions, with 2x the ranking points up for grab.

Registration: norcal.usta.com NMW(2.5-5.0)S, SE; NMW(2.5-5.0)D, SE; NX(2.5-5.0)D, SE

JUNIOR TENNIS CAMPS

Future tennis stars can immerse themselves in up to three hours of daily instruction and play-based learning throughout the summer starting Monday, June 18. Highly trained staff help bring out the passion for this great sport, while a flexible schedule ensures plenty of time for other activities. Space is limited, call (530) 587-9474 to register.

EQUESTRIAN

BEACH CLUB MARINA

BOARDING

SCHEDULED OPENING FRIDAY, MAY 25

Applications for horse boarding can be found online at tahoedonner.com/ equestrian. Boarding opens June 1 and includes daily cleaning and twicedaily feeding of up to two flakes.

Prices are subject to change.

2018 BOARDING RATES

Basic 12x24 Paddock – Nightly Member $27 Non-Member $44 Deluxe 24x24 Paddock – Nightly Member $37 Non-Member $54 Basic 12x24 Paddock – Weekly Member $114 Non-Member $184 Deluxe 24x24 Paddock – Weekly Member $159 Non-Member $244

BOAT LAUNCHING POLICIES

All motorized/trailered vessels launching on Donner Lake must first pass an invasive species inspection. For inspection station location and hours, visit truckeeboatinspections.com or call (888) 824-6267.

Vessels launched at Beach Club Marina must be registered with Tahoe Donner.

Vessel registration, proof of insurance and a release of liability waiver are required to launch at Beach Club Marina during Summer 2018. For more information or to register online, visit tahoedonner.com/marina.

Basic 12x24 Paddock – Monthly Member $429 Non-Member $579 Deluxe 24x24 Paddock – Monthly Member $599 Non-Member $759

TRAIL AND PONY RIDES STARTING SATURDAY, JUNE 16

The Equestrian Center will open for trail and pony rides starting Saturday, June 16. Trail rides last one or two hours, and riders must be at least 7 years old and 4 feet tall. Pony rides last 30 minutes and are for children ages 2-6 weighing 60 pounds or less. Reservations are required for all rides and can be made by calling (530) 587-9470.

2018 MEET AND GREET FRIDAY, JUNE 15

Meet the horses and staff, enter to win a trail or pony ride, and collect trading cards featuring the horses at this free event. Includes complimentary hot dogs, cold drinks, games and prizes.

When: 5-7PM

RECREATION TRIVIA NIGHT THURSDAYS

Trivia lovers, this is your chance to win big! Play for free every Thursday.

When: Thursdays, 6:30-8PM Where: Pizza on the Hill

FAMILY MOVIE NIGHT FRIDAYS

Enjoy a classic or new movie every Friday. All films are rated G or PG. Call (530) 582-9646 to find out what’s playing at this free event.

THE

BUZZ: CLUBS

TD JUNIOR GOLF CLUB While you may be getting a few final days of skiing under your belt, it’s time to think about the Tahoe Donner Junior Golf Club. Founded over 20 years ago, the Junior Golf Club provides children under 18 the opportunity to gain skills, learn etiquette and most importantly, have fun playing the game of golf. Each Thursday afternoon we begin with putting and chipping games designed to teach and reinforce skills without the participants knowing they are drills. Then we hit the course. The players are put into foursomes based on skill and age.

The younger players are accompanied by adult volunteers, who are there for safety purposes only; the kids are playing golf on their own. Club members get special discounted tee time rates, and The Lodge provides incentives for participants and their families in the form of discounted dinners.

Membership applications will be available at the Pro Shop when the season opens. The membership fee is $15. A weekly option of $5 is available for those who can’t make it every week (once you have participated three times, the membership fee is satisfied.) This goes to cover costs of snacks on play days, postage and more as we solicit financial support from our local businesses. At the end of the summer, we hold our annual Tahoe Donner Junior Golf Club Championship Tournament. Every participant takes home a prize, and hopefully great memories.

When: Fridays, 6:30PM Where: Northwoods Clubhouse

THE BUZZ: CLUBS CONTINUES

*All prices subject to change

TAHOE DONNER NEWS TAHOE TAHOE DONNER DONNER NEWS NEWS| | |

11 11

THE BUZZ: CLUBS

MEN’S GOLF CLUB

SENIOR ALPINE SKI CLUB

TD 4 WHEELERS CLUB

The Tahoe Donner Men’s Golf Club offers an opportunity to participate in local and NCGA tournaments, informal rounds and weekly club games throughout the summer.

Skiers had a good 2017/18 ski season despite Mother Nature not being too cooperative. Club activity was fantastic, especially in March when we got some great snow. We usually have two ski events each week between January and March, mostly at the local ski areas. We have several races and clinics during the year, too. This coming ski season we will be adding some travel trips, like the one to Steamboat Springs, CO, Feb. 2-9. See tdski.com for details.

The Tahoe Donner 4 Wheelers Club is a wonderful way to explore nature’s beauty from our Tahoe Donner base camp! Check out TD4wheelers.org for the 2018 trail ride schedule and other information about the club.

WELCOME EVENT SUNDAY, MAY 27

We invite new, prospective and current members to a welcome reception for the new golf season. Beer and soft drinks will be provided at The Grotto next to the Pro Shop, and you’ll get a chance to meet other club members and get a preview of the upcoming tournament and social golf season.

2018 CLUB TOURNAMENT SEASON Club tournaments are fun, low-key events held throughout the summer, many using flights of similar-handicap golfers. Top teams in NCGA qualifiers go on to compete at NCGA events.

June 10 June 15

Icebreaker NCGA Senior Four-Ball Qualifier June 24 NCGA Four-Ball Qualifier July 8 Match Play Qualifier July 21 NCGA Net Amateur Qualifier July 28 Junior/Senior or Father/ Child* Aug. 2-4 Tahoe Donner Invitational Aug. 11 NCGA Zone Qualifier Aug. 25-26 Club Championship Sept. 9 Ryder Cup Sept. 16 Memorial* Sept. 30 Chapman*

While our primary focus is winter alpine skiing, we also organize activities throughout the year for club members.

As we now move on to spring and summer, there are one or two planned activities each month to keep club members engaged. In June there will be a Summer Kickoff BBQ and Potluck, a great way for all to reunite for the start of another Sierra Nevada summer.

The club golf tournament is in July and is a great social event to be enjoyed by all, no matter your golfing ability.

There will also be a kayaking adventure on Lake Tahoe in July. August events include the annual New Member BBQ, which is always a hit with club members and historically has had a very large turnout. New members are always welcome.

Please visit our website at tdski.com for club information as well as full details and dates for upcoming events.

TD4WD Club had eight Jeeps at this year’s Easter Jeep Safari in Moab, Utah.

As usual, the group was led by Russ and Coleen Liedholm, who are long-time Moab veterans. The group spent five full days in the Moab area and enjoyed three or more trail rides offered by the Red Rock Four Wheel Drive Club, and spent time in nearby Arches and Canyonlands National Parks. Moab has something for everyone.

This group shot was taken at the lunch stop of the Wipe-Out Hill trail.

Rock formations known as Determination Towers are in the background.

Unplanned entertainment included rock climbers on the tower, who basejumped from the top with parachutes!

The scenery was unbeatable, the trails were thrilling and the camaraderie brought us all closer as a community.

Consider joining the fun!

*Open to all Tahoe Donner homeowners

In addition to the tournaments above, there will be friendly skins/team golf played on Wednesdays starting June 13, and social events throughout the summer including nine-and-dine, member/guest play and more.

See the club website at sites.google.com/site/tdmensgolfclub.

QUILT CLUB for Girls. This quilt was made by Odette Turmel for the Truckee Healthy Babies program. Odette is a new member of our club, she does beautiful work and fits right in.

WOMEN'S GOLF CLUB The Tahoe Donner Women’s Golf Club will host its annual Ladies Guest Day on Tuesday, July 24. Bring a guest for the 8AM shotgun start to experience Tahoe Donner Golf Course in the peak of the summer season. For more details, email tdwgclub@gmail.com.

The Tahoe Donner Quilt Club continues to make baby quilts and is also helping with an international program called Days

The Quilt Club meets the first and third Wednesday of each month in the Meadow Room at Northwoods Clubhouse from 1-3PM. In June we change to later in the afternoon, 3-5PM. Come check us out. We learn from each other and have developed wonderful friendships. For more information contact Linda Brush at sewlinda@aol.com or Marilyn Dundas at md11792@outlook.com.

KERI OBERLY

OTHER CLUB EVENTS

THE

BUZZ:

NO CORKAGE TUESDAYS

Bring your special bottle of wine on Tuesday and we’ll waive the corkage fee.

DINING

WILD WEDNESDAYS

Happy Hour food and drink pricing all night long throughout the entire restaurant.

CINCO DE MAYO PARTY SATURDAY, MAY 5

The Lodge is open daily from 5-9PM.

DAILY HAPPY HOUR AT THE LODGE PUB LUNCH SERVED DAILY 11:30AM-2PM

TRAILSIDE BAR

Open daily from 11:30AM-2PM

TACO TUESDAYS

Back by popular demand, enjoy two carnitas tacos with cilantro lime slaw for $6 throughout May.

BURGER FRIDAYS

Enjoy the ACC burger and fries for $10 every Friday all month long.

15275 ALDER CREEK RD (530) 587-9484

Drink specials and 25% off pub fare, soups, salads and appetizers in The Lodge Pub. Not valid May 25-27.

When: 5-6:30PM daily until golf course opens; 4-6PM daily upon golf opening

GOLF SEASON AT THE LODGE PUB + SNACK BAR

Daytime operations will begin in conjunction with the opening of Tahoe Donner Golf Course, expected on Friday, May 25, conditions permitting.

GOLFERS HAPPY HOUR AT THE LODGE PUB

Enjoy post-golfing food and drink specials in The Lodge Pub. When: 2-4PM daily upon golf opening

$10 PIZZA SUNDAYS

Let us do the cooking with $10 cheese, sausage and pepperoni pizzas for dine-in or take-out. Limit 10 per family.

Not valid May 27.

THURSDAY NIGHT TRIVIA MAY HOURS

Thursday-Monday, 5-8:30PM

NEW HAPPY HOUR MENU

Enjoy discounts on food and beverages during our Happy Hour, which will have a new menu starting May 1.

When: Thursday-Monday, 5-6PM 11509 NORTHWOODS BLVD (530) 582-9669

Play for free and you might win prizes!

When: Thursdays, 6:30-8PM

FREE FRIDAY NIGHT MOVIE

A new family-friendly film every week. Bring your pillows and purchase Pizza on the Hill for dinner!

When: Fridays, 6:30PM Where: Northwoods Clubhouse

FREE WINE TASTING FRIDAY, MAY 11

Enjoy wines being offered by Handley Cellars Wine.

When: 5-6:30PM

MOTHER’S DAY WEEKEND MAY 12–13

Moms get a free glass of champagne on Saturday and Sunday (limit one per person), plus crafts for the kids from 5-7PM.

TAHOE DONNER'S NATIONAL WINE DAY MONDAY, MAY 28

Celebrate National Wine Day with 25% off all bottles.

12850 NORTHWOODS BLVD (530) 587-9455

HAPPY MAY MONDAYS!

Celebrate spring with Happy Hour all night long on Mondays throughout May.

CINCO DE MAYO SATURDAY, MAY 5

Join the party with $1 Bud Light Mango-a-Ritas, Mexican beer specials and a “Mexican-style” pizza with chorizo, cilantro, onion, jalapeños, cotija cheese and salsa verde.

FREE DESCHUTES BEER TASTING SATURDAY, MAY 12

Come try free samples of Deschutes Brewery’s latest seasonal brews, plus get Happy Hour pricing on Deschutes drafts all night.

TAHOE DONNER NEWS |

13

*All offers listed are valid during non-holiday periods and are not valid with any other promotions or coupons. Offers subject to change.

MAY HOURS

Celebrate with $3 Coronas, $6 margaritas and authentic Mexican specials from Sous Chef Freddy Zarate, plus Happy Hour all night in The Lodge Pub.

THE REPORT

BRIEFS NATIONAL TRAILS PREPARE NOW! FORESTRY DEFENSIBLE DAY GUIDED HIKE: SPACE PRESENTATION CARPENTER VALLEY MAY 18, 5:30-6:30PM ALDER CREEK ADVENTURE CENTER Attend this informative presentation offered by the Tahoe Donner Forestry Department on the defensible space work TDA program requirements and how they benefit you.

Topics covered include: • Fire mitigation at your home and as a community • Homeowner insurance policies • Preparedness mindset Staff will also cover TDA property defensible space and work planned for 2018. Speakers include Bill Houdyschell, TDA forester, and retired and active personnel from Truckee Fire Protection District and Cal Fire.

COMMUNITY ENGAGEMENT COMMITTEE SEEKS MEMBERS The board of directors seeks to assemble a Member Engagement Committee to increase member participation and engagement during voting processes, inform and educate the membership before and during these voting processes, and provide assistance with other member communications efforts.

Contact board@tahoedonner.com for info.

STAY IN THE KNOW: SIGN-UP FOR CAPITAL PROJECTS EMAILS Get up-to-date on current and potential Capital Projects including the Trout Creek Recreation Center renovation, the potential new Downhill Ski Lodge and more. This monthly email comes directly to your inbox and is packed full of key project information. Sign-up today at tahoedonner.com/subscribe.

JUNE 2, 9AM-12PM

The Tahoe Donner Trails Department, the Friends of Tahoe Donner Trails Club and the Truckee Donner Land Trust invite you on an interpretive guided hike in the magnificent Lower Carpenter Valley. Just over the ridge from Tahoe Donner's Crabtree Canyon but long hidden from public view, Carpenter Valley offers grand scenery, lush meadows and the chance to see wildlife in their natural environments.

This hike will feature commentary on the valley’s ecology and history; detail the ways in which Tahoe Donner is working with the Land Trust to provide access to the valley; and highlight the tremendous recreational opportunities the Tahoe Donner community will enjoy once Carpenter Valley is fully open to the public. For now, however, the only way to visit this extraordinary place is through docent-led hikes like this one exclusively for Tahoe Donner members and their guests.

Sign-Up/More Info: tdtrails.org

SUP/KAYAK STORAGE 2018 SEASON Tahoe Donner members wanting convenient, season-long summer storage for kayaks and/or stand-up paddleboards (SUPs) are encouraged to enter the lottery for storage spots at Beach Club Marina.

Different storage products will be available at shoptd.tahoedonner.com during specified purchase periods. Please read and understand the complete Rules and Information at tahoedonner.com/kayakstorage.

HOW TO MAKE A COVENANTS COMPLAINT 1

Online at onestop.tahoedonner.com

2

Email compliance@tahoedonner.com

3

Call (530) 414-8166*

*A staff member is available Monday-Friday 8AM-5PM and Saturday-Sunday 11AM-8PM. On-call, after-hours staff are available FridaySunday and holiday periods 8-11PM.

WHAT INFORMATION TO PROVIDE When making a complaint after hours, be prepared to provide: • Your name, address and email • Nature of complaint with times occurring • Address of property being complained about • Evidence: photos, video, etc.

• How this behavior is affecting you • What actions have been taken (e.g. called police)

AFTER-HOURS COMPLAINT: WHAT HAPPENS NEXT Staff will take your complaint and make every effort to contact the owner of the property being complained about, share details about the complaint and request voluntary compliance.

HOMES ON THE RISE

Exit Side SUP Storage – $100/spot Purchase period: May 1-May 4 Lottery: Saturday, May 5 at 12PM

The Architectural Standards Committee reviewed the following plans in March 2018.

UNIT/LOT ADDRESS

SQ. FT

PROJECT

Exit Side Kayak Storage – $100/spot Purchase period: May 8-11 Lottery: Saturday, May 12 at 12PM

10/407

1,544

House

14524 Hansel Avenue

FEATURE

100 YEAR ANNIVERSARY

CELEBRATION OF THE

PIONEER

MONUMENT

By DEREK MOORE

VIRILE TO RISK AND FIND; KINDLY WITHAL AND A READY HELP. FACING THE BRUNT OF FATE; INDOMITABLE, —UNAFRAID. – PIONEER MONUMENT PLAQUE

Now, 100 years later, California State Parks and the Sierra State Parks Foundation will host a Centennial Celebration for the Pioneer Monument on Saturday, June 9. This free, public event includes a statue re-dedication ceremony at 11AM followed by an afternoon of fun family activities until 4PM. This day also marks the restoration kick-off for the iconic monument. A fundraising dinner gala will take place starting at 5:30PM. Gala attendees will enjoy a private cocktail hour and live music followed by a gourmet farm-and-sea dinner paired with fine wines. Silent and live auctions will cap off the night.

Tahoe Donner members are invited to an exclusive historical tour of Donner Memorial State Park. Experienced docent and skilled storyteller Greg Palmer will lead guests along a quartermile, educational hike showcasing various historical points of interest that include stories of the first wagons that crossed the Sierra Nevada. Greg will lead two separate hikes. No registration is necessary.

The dinner will take place under a heated tent backdropped by the Pioneer Monument. Tickets cost $125 per person and are available at sierrastateparks.org.

According to the Sierra State Parks Foundation, the Centennial Celebration Gala is part of a major fundraising campaign for the “Donner Project.” Money raised will help fund a full statue restoration, which includes the brass figures and stone pedestals, plus the development of a new outdoor community education pavilion and its surrounding landscape.

As a proud sponsor of the Centennial Celebration, Tahoe Donner Association looks forward to celebrating this historical moment with TD members and the greater Truckee and North Lake Tahoe community. We hope to see you there.

PHOTO COURTESY OF JUST IMAGINE MARKETING

On June 6, 1918, the building of the 22-foot-tall Pioneer Monument was completed. On that day thousands of people, including three surviving members of the Donner Party, gathered at what’s now Donner Memorial State Park to honor those who traveled the Emigrant Trail seeking new life and opportunity out West.

Visit sierrastateparks.org for more information and to purchase tickets to the fundraising gala.

DATE: Saturday, June 16 TIMES: 11AM and 1:30PM WHERE: Donner Memorial State Park Visitor Center COST: Free WHO: Tahoe Donner members and guests only

TAHOEDONNER DONNERNEWS NEWS| | TAHOE

15 15

THE REPORT

BUSINESS DIRECTORY CARPET CLEANING

FIREPLACES / WOOD STOVES

HEAVEN’S BEST CARPET CLEANING

MOUNTAIN HOME CENTER

Annie Pratt PO Box 3024 Truckee, CA 96160 (530) 320-4192 Fax (530) 550-1252 a.pratt@heavensbest.com www.laketahoeheavensbest.com

11403 Brockway Road Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com www.mountainhomecenter.com

HEALTH CARE TAHOE FOREST HOSPITAL

DEFENSIBLE SPACE / LANDSCAPING / TREE SERVICE ALPEN TREE EXPERTS Ryan Kramer PO Box 571 Truckee, CA 96160 (530) 448-1194 alpentree@gmail.com www.alpentree.com

HALL TREE Jason Hall PO Box 3374 Truckee, CA 96160 (530) 320-8061 halltree@gmail.com www.halltreecompany.com

TIMBERWOLFE TREE SERVICE AND DEFENSIBLE SPACE Todd Wolfe (530) 386-3340 Todd@twts.biz www.timberwolfetreeservice.com

DRIVEWAY SEALING ELEMENTS MOUNTAIN CO. 17356 Northwoods Blvd Truckee, CA 96161 (530) 582-0300, (530) 587-7017 Fax (530) 582-1930 info@elementsmtn.co www.elementsmtn.co

10121 Pine Avenue Truckee, CA 96161 (530) 587-6011 www.tfhd.com

HOME + OUTDOOR FURNISHINGS MOUNTAIN COMFORT FURNISHINGS & DESIGN 11464 Donner Pass Rd Truckee, CA, 96161 (530) 550 -5321 sales@mountaincomforttruckee.com www.mountaincomfort.com

MOUNTAIN HOME CENTER 11403 Brockway Road Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com www.mountainhomecenter.com

HOME MAINTENANCE + SERVICES ALPINE BUTLER (530) 305-3193 AlpineButler@yahoo.com

MR. HONEY-DO PO Box 5247 Tahoe City, CA 96145 (530) 581-4031 michael@mrhoneydo.biz www.mrhoneydo.biz

SECOND HOME CARE INC. Greg and Myrna Vitale 17400 Northwoods Blvd., Ste 3 Truckee, CA 96161 (530) 582-0220, (530) 582-0111 Fax (530) 550-0220 shc@secondhomecare.com secondhomecare.com/

TRUCKEE TAHOE PROS (530) 550-7767 www.truckeetahoepros.com

HVAC MAJESTIC HEATING, INC. PO Box 10002 Truckee, CA 96162 (530) 587-4944 www.truckeeheating.com

INTERIOR DESIGN BASSETT FLOORING Tyler Nyby 10800 Pioneer Trail #3 Truckee, CA 96161 (530) 582-7428 www.truckee.abbeycarpet.com

DISCOUNT WINDOW COVERINGS Gail Baker (530) 587-5577 Fax (530) 589-8123 gbaker1953@sbcglobal.net www.discountwindowcoverings.org

PRECISION FLOORING Sarah Wolfe 11357 Donner Pass Rd #E Truckee CA 96161 (530) 587-0102 Fax (530)-587-0156 info@precisionflooringtruckee.com www.precisionflooringtruckee.com

PAINTING SERVICES DEDEN PAINTING Dave Hunter 11406 Oslo Drive Truckee, CA 96161 (530) 587-7525, (530) 448-9673 Fax (530) 587-7525 dave@dedenpainting.com www.dedenpainting.com

EASTERBROOK PAINTING, INC. Jim Easterbrook Physical and Mailing Address: 15666 Alder Creek Rd. Truckee, CA 96161 (530) 550-9332, (530) 386-3979 Fax (530) 550-9839 easterbrookpaint@sbcglobal.net www.easterbrookpainting.com

ELEMENTS MOUNTAIN CO. 17356 Northwoods Blvd Truckee, CA 96161 (530) 582-0300, (530) 587-7017 Fax (530) 582-1930 info@elementsmtn.co www.elementsmtn.co

KELLY BROTHERS PAINTING INC. 11020 Trails End Court Truckee, CA 96161 PO Box 6512 Tahoe City, CA 96145 (530) 550-0806 Fax (530) 452-1805 info@kellybrotherspainting.com www.kellybrotherspainting.com

SIERRA PRECISION PAINTING Patrick White 12261 Stony Ridge Court PO Box 11107 Truckee, CA 96161 (530) 550-7938, (530) 550-7918 sierraprecisionpainting@gmail.com www.sierraprecisionpainting.com

REAL ESTATE ALISON ELDER – ELDER GROUP TAHOE REAL ESTATE | ENGEL & VÖLKERS 10770 Donner Pass Road, Suite 205 Truckee, CA 96161 (530) 582-8103 Fax (530) 579-8377 info@eldergrouptahoe.com www.eldergrouptahoerealestate.com

MAJESTIC HEATING INC. CSLB 906991

Duct Cleaning

DICKSON REALTY, TRUCKEE Lil Schaller 11836 Donner Pass Road Truckee, CA 96161 (530) 587-7444 Fax (530) 587-8064 info@dicksontruckee.com www.dicksonrealty.com

Visit truckeeheating.com

Purchase and Schedule

THE SHARP TEAM/COLDWELL BANKER Janie Sharp + Kristi Hood 17400 Northwoods Blvd Truckee, CA 96161 (530) 587-8574 www.thesharpteam.com

SNOW REMOVAL ELEMENTS MOUNTAIN CO. 17356 Northwoods Blvd Truckee, CA 96161 (530) 582-0300, (530) 587-7017 Fax (530) 582-1930 info@elementsmtn.co www.elementsmtn.co

SPAS / PATIO FURNITURE MOUNTAIN HOME CENTER 11403 Brockway Road Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com www.mountainhomecenter.com

For more information about these businesses, please visit tahoedonner.com/businessdirectory.

These services are provided for Tahoe Donner homeowners. The businesses included in the directory are advertisers with Tahoe Donner. If you would like to advertise, contact our sales representative at david@cc.media.

Tahoe Donner Association makes no claims regarding the quality of goods or services provided by these companies. Potential customers are advised to use their own best judgment.

CSLB #974246

• Complete Handyman services • Caretaking services • Decks- build, repair, refinish • Painting & Drywall • Kitchen & Bath remodels • Plumbing • Electrical • Send us your “Honey Do List”

530.581.4031

www.mrhoneydo.biz info@mrhoneydo.biz PO Box 5247, Tahoe City, CA 96145

TAHOE DONNER NEWS |

17

THE REPORT

BOARD MEETING RECAP February 24, 2018 APPROVED • • • • • • • • • • • •

January 27, 2018 minutes 5-0 February 8, 2018 minutes 5-0 February 13, 2018 minutes 5-0 Replacement of Event Tent & 2019 Banquet Booking Approval 3-2 New Board of Directors’ Code of Conduct 3-2 Board of Directors Election Fair Campaign Guidelines 5-0 Redraft of Member Engagement Task Force Charter 5-0 Donner Memorial State Park Centennial Celebration 5-0 2018 Nature Loop Repair 5-0 Tahoe Donner Giving Fund 2018 Scholarships 5-0 Architectural/Elections/Finance Committees Goals 5-0 Architectural Standards 2018 Proposed Fee Changes 5-0

NO ACTION • • • • •

Executive Session Report Trout Creek Remodel Project Update Tahoe Donner Survey Platforms 2017 December Financials Adams Stirling Law Firm Board Training

See full minutes at tahoedonner.com/boardmeetingdocs

LETTER TO THE BOARD Provide feedback to help improve the overall association. Submit your comments and concerns at board@tahoedonner.com.

Learn more at tahoedonner.com/feedback.

SNOWMAKING IS PROVING TO HAVE A STRONG RETURN ON INVESTMENT $640,000 IN FAVORABLE NET OPERATING RESULTS AT DOWNHILL SKI DUE TO SNOWMAKING December 2017–February 2018 (snowmaking only) compared to December 2013–February 2014 (no snow)

2013-2014

SNOWBIRD CHAIRLIFT – NO SNOWMAKING

2017-2018

SNOWBIRD CHAIRLIFT – WITH SNOWMAKING

Woman Owned Business

Serving Truckee/North Tahoe • Environmentally friendly • Organic citrus base solution • Safe for pets and people • Low moisture process

BASSETT FLOORING is family owned and operated and has

10800 Pioneer Trail, Unit 3, Truckee

served the Truckee-Lake Tahoe area

53 0 5 82.742 8

since 1979. We carry high-quality hardwood flooring and carpet ideal

DRY 1 IN HOUR!

530-320-4192

www.heavensbest.com

Mention this ad for 15% discount - 3 room minimum

bassettflooring.com

for your mountain home. Visit us and explore our amazing selection at the Pioneer Commerce Center in Truckee.

ROOF PAINTING Over 200 Metal Roofs painted since 2010

& Defensible Space Inc. We will answer your call 7 days a week!

Todd Wolfe CCA License #775729

Kevin Spurgeon Certified Arborist #WE10389

530.587.3452 mikerogerspainting.com

CA Lic #484113

TAHOE DONNER NEWS |

19

2017 ANNUAL REPORT OPERATING FUND, MEMBERS EQUITY

TO DEVELOPMENT FUND $1,800,000

YEAR-END BALANCE $2,291,562 TRANSFER $3,300,000

YEAR-END BALANCE

TRANSFER

TO REPLACEMENT RESERVE FUND $1,500,000

DEVELOPMENT FUND

REPLACEMENT RESERVE FUND

As a Large-Scale Common Interest Recreation Homeowner Community, Our Mission today, is as relevant as it was when Tahoe Donner was established in 1971; Tahoe Donner is a recreational-oriented mountain residential community, whose mutual benefit association of 6,500 owners provides for the standards, regular operation and long-term maintenance of programs, facilities and open space. Through continuous improvement, customer service, and fiscal accountability, the association maintains leading standards of natural resource stewardship, facilities, programs and services to benefit the owners/members. Organizational effectiveness and innovation within the association is sustained by maintaining a highly professional board of directors, staff, and homeowner committee volunteers, while also engaging the local community in an effective and collaborative relationship.

Key budget assumptions for 2017, including holding the annual assessment flat, provided valued conservatism, which also prepared the association well going into one of the largest snowfall/weather impacted years on record for the region. Positive operating results to budget produced a positive surplus of member equity funds to allow for a $3,300,000 transfer out of the operating fund to capital funds for future capital projects – like the Snowbird Chairlift Replacement approved and scheduled for 2018.

Several large capital improvements were completed in 2017 greatly improving both the common facilities and near-term planning efforts to inform future capital reinvestment decisions. Key improvements included the completion of the Associations Masterplan for Capital Improvements, significant work on a Downhill Ski Lodge Masterplan, Phase I of a major pool resurfacing & safety program, Trout Creek Recreation Center Expansion Planning, Snowbird Chairlift Replacement Planning, and changing from a long-term Golf Cart lease program to purchasing our own Golf Cart Fleet.

The 2017 Annual Report starting on the next page contains a wealth of information regarding the financial performance of your association.

Reading it can be informative, even enlightening!

A new year’s budget is already underway, keeping the annual assessment at $1,900, providing value to our members enjoyment of this amazing mountain oriented recreation community. New strategic goals are focused on member input and community engagement to further deliver on Tahoe Donner’s Mission and Vision moving forward.

Jeff Connors President, Board of Directors

Robb Etnyre General Manager

2017

ANNUAL

REPORT

VISION STATEMENT Tahoe Donner is a vibrant and desirable mountain community providing attractive and well-maintained facilities, events, programs and leading customer service to its members, guests and public, all while maintaining accessible and healthy natural surroundings.

TAHOE DONNER 2017 ANNUAL REPORT |

1

Dear Members,

$1.2 MILLION FAVORABLE NOR RESULTS

The purpose of this 2017 Annual Report is to provide a comprehensive report on 2017 financial results and to communicate the 2017 Audited Financial Statements and Independent Auditors Report to all members.

Net Operating Result Loss of $5.1 million was $1,188,000 or 19% favorable to Budget and $619,000 or 14% unfavorable to 2016

Management, the Finance Committee and the Board consistently monitor both operational and financial results, and we are committed to both responsive and proactive management, balancing our service levels to volume and financial performance.

$18.2 MILLION OPERATING COSTS

Please contact me anytime to discuss this report or any other financial aspects of your association.

$6.3 MILLION | $975 PER OWNER

MICHAEL SALMON DIRECTOR OF FINANCE & ACCOUNTING msalmon@tahoedonner.com (530) 587-9418 @TDAacg tahoedonner.com/financials

$6.0 MILLION | $925 PER OWNER

$13.1 MILLION OPERATING REVENUES Up 19% to Budget and Up 3% to 2016 Up 5% to Budget and Up 6% to 2016

$3.9 MILLION CAPITAL FUNDS EXPENDITURES Favorable $548,000 or 12% to Budget

Operating Contribution by Annual Assessment in 2017 Capital Contribution by Annual Assessment in 2017

$64.3 MILLION TOTAL ASSETS Up $3.3 million or 5% to 2016

$57.1 MILLION | $8,822 PER OWNER Members' Equity as of 12/31/2017, up 6% to 2016

OPERATING FUND JAN. – APRIL

NET OPERATING RESULTS – 2017 VARIANCES TO BUDGET +$1,150,000

STRONG PERFORMING WINTER WITH GREAT SNOWPACK • REVENUES UP $2,065,000 OR 56% TO BUDGET • EXPENSES UP DUE TO THE RECORD VOLUMES, UP $915,000 OR 17% TO BUDGET • NET OPERATING RESULT FAVORABLE $1,150,000 OR 66% TO BUDGET

+$1,000

NOV. – DEC.

MAY – OCT.

WINTER SNOWPACK NEGATIVELY IMPACTED GOLF, ALL OTHER OPERATIONS PERFORMED AHEAD OR NEAR BUDGET • REVENUES UP $97,000 OR 2% TO BUDGET OVERALL (GOLF OFF BUDGET $177,000 OR 15%) • REVENUES AT THE LODGE OF $1.5 MILLION, UP 10% TO BUDGET AND 8% TO 2016 • EXPENSES UP $96,000 OR 1% • NET OPERATING RESULT FAVORABLE $1,000 OR 0% TO BUDGET

+$37,000

SNOWMAKING PROVIDED ENOUGH SNOW, GOOD BUSINESS LEVELS • SNOWMAKING PROVEN INVESTMENT, PROVIDED ENOUGH SNOW TO OPERATE FOR THE PEAK HOLIDAY PERIOD

2017 ANNUAL

+$1,188,000

• RECEIVED JUST ENOUGH NATURAL SNOWFALL TO OPERATE CROSS COUNTRY SKI • VERSUS BUDGET: REVENUE OFF $46,000/3% AND COSTS FAVORABLE $83,000/3%

REVENUE AND PAYROLL

NOR FAVORABLE TO BUDGET $1,188,000 | 19% | $184 PER OWNER

Chart dollars in thousands

OPERATING REVENUES IN THOUSANDS

2013 $9,505,010

2014 $7,679,146

2015 $8,681,085

2016 $ 12,771,029

2017 $13,116,553

$14,000

EMPLOYEE W-2s ISSUED

819

735

764

897

924

$12,000

W-2s PER $1,000 REVENUE RATIO

9%

10%

9%

7%

7%

$10,000

AVERAGE WAGES PER W-2 ISSUED

$

8,884

$

8,773

$

9,509

$

9,826

$

10,276

$8,000

CALIFORNIA MINIMUM WAGE (1)

$

8.00

$

9.00

$

9.00

$

10.00

$

10.50

$6,000

SEASONAL/PART-TIME FTE (3)

122.3

92.1

100.9

128.2

120.9

$4,000

FULL-TIME REGULAR (2) FTE (3)

64.0

65.0

66.0

81.0

84.0

$2,000

FTE (3) TOTAL

186.3

157.1

166.9

209.2

204.9

REVENUE PER FTE W-2 TO FTE RATIO

$

51,020 4.4

$

48,881 4.7

$

52,014 4.6

$

61,047

$

64,014

4.3

The association employs a high percentage of seasonal customer service, entry level positions to operate the various amenities of the association.

There is a high volatility of work-force each season and in each season based on numerous factors, particularly weather and business volumes.

1. California Minimum Wage; 2014 change effective 7/1, 2018 increases to $11.00 and 2019 increases to $12.00.

2. The Federal Affordable Care Act of 2010, impacted the association starting in 2016, created a Federally regulated determination of those employees categorized as 'Full Time' and mandated to be offered health insurance. Prior to this Act, the association had discretion as to which employees were offered health insurance and categorized full time and which were classified as seasonal employees.

3. Full Time Equivalents (FTE) as calculated based on a standard of 2080 work hours per year.

2

| TAHOE DONNER 2017 ANNUAL REPORT

4.5

87%

103%

89%

$0 2016 ACTUAL 2017 BUDGET 2017 ACTUAL OPERATING REVENUE PAYROLL COSTS PAYROLL PERCENT OF REVENUE 2017 ACTUAL VERSUS BUDGET REVENUE UP 19%, PAYROLL COSTS UP 3% 2017 ACTUAL VERSUS PRIOR YEAR REVENUE UP 3%, PAYROLL COSTS UP 5%

ANNUAL ASSESSMENT

DISTRIBUTION OF 2017 ANNUAL ASSESSMENT

$1,900 PER OWNER DISTRIBUTION OF 2017 ANNUAL ASSESSMENT ($1,900 PER OWNER) 49% / $925

GRAY BARS ARE PRIOR YEAR 2016 BUDGET ($1,900 IN TOTAL) FOR COMPARISON

$900 $800

$700 $826

$600

THE 2017 VERSUS 2016 BUDGET DECREASE OF $105 IS PRIMARILY DRIVEN BY FAVORABLE 2016 OPERATING RESULTS AND SNOWMAKING INVESTMENT

Note: amenities do not receive administrative support cost allocation or capital cost charge

26% / $495

$500

in departmental net operating result amounts.

$400 $516

$300

6% / $116

$200

8% / $160

$100

7% / $127

$162

6% / $106

$130

$0 $(100)

$221

-2% / $(29)

$79

$(34)

RESERVE CAPITAL FUNDS (PAGE 10)

HOA GENERAL AND ADMIN

HOA MAINTENANCE SUPPORT

(PAGE 4)

HOA UTILITIES, INSURANCE AND TAXES

HOA FORESTRY AND FIRE PREVENTION

PRIVATE AMENITIES

PUBLIC AMENITIES

ANNUAL ASSESSMENT OWNER

BY FUND ANNUAL ASSESSMENT PERPER OWNER

BY FUND $940

2018

$620

$975

2017

$595

2016

2011

2007 $

$318

$619

$200

$400

OPERATING

$600

$800

REPLACEMENT RESERVE

$22

$143

$138

$1,000

$232 $146

2007-2017

2007-2018

CAPITAL FUNDS

6.8%

6.5%

OPERATING FUND

4.6%

3.9%

TOTAL ASSESSMENT 5.6%

5.1%

11 YEAR

Accumulating funds over time to address the aging infrastructure needs of your association, consistent with the General Plan, while striving to minimize the operating fund portion of your assessment.

$300

$1,900 $1,900

$250

$250

$1,900 $1,800

$1,600

$1,505

$1,330 $1,300

$1,200

$1,150 Capital portion 44% in 2007

$1,097 $1,200

$1,400

$1,600

NEW MACHINERY AND EQUIPMENT

KEY NOTES Capital Funds Portion of Annual Assessment

COMPOUND ANNUAL GROWTH RATE (CAGR) METRICS 10 YEAR

$17

$330

$660

2008

$25

$334

$695

2009

$25

$348

$695

2010

$30

$1,375

$250

$25

$360

$695

$250

$30

$400

$695

2012

$250

$30

$434

$791

2013

$250

$30

$478

$842

2014

$310

$30

$526

$994

2015

$30

$30

$546

$1,074

Capital portion 51% in 2018

• The Replacement Reserve Fund portion has been deliberately increased over time to improve the reserve funding level of our over-45-year-old association.

Underfunding reserves is considered the bain of many associations across the country.

We adopted a reserves funding policy and recent Boards have adhered to this policy. Your association's reserves are now in a much stronger financial position to handle the replacement and major maintenance needs of the association's assets.

• The Development Fund portion was held at $250 for six years (2011-2016) and was increased to $300 in 2017, recognizing the known future funding requirements. This funding is for eventual building replacements due to functional obsolescence and for new facilities or other new major projects due to the changing needs of membership.

• More historical information on Capital Funds, see pages 10-11.

$1,800

$2,000

DEVELOPMENT

Operating Fund Portion of Annual Assessment • The Operating Fund portion was held flat for four years (2009-2012), with strong visitation and revenue growth and no droughts.

• The Operating Fund portion increased in 2015 and 2016 due to the combined pressures of winter droughts' impact on operating revenue expectations and payroll cost increases due to California minimum wage increases and the Federal Affordable Care Act impacts.

• For 2017 and 2018, the Operating Fund portion was decreased ($99 in 2017 and another $35 in 2018) due to favorable revenue trends, as well as a favorable decrease in workers compensation costs.

• More historical information on the Operating Fund, see page 4 TAHOE DONNER 2017 ANNUAL REPORT |

3

OPERATING FUND OPERATING FUND

CAGR = COMPOUND ANNUAL GROWTH RATE

ACTUAL ACTUALRESULTS RESULTS $15,000,000 $10,000,000 $5,000,000 $0 ($5,000,000) ($10,000,000) ($15,000,000) ($20,000,000)

2007

2008

2009

2010

OPERATING REVENUES

2011

2012

OPERATING COSTS

2013

2014

2015

2016

2017

NET OPERATING RESULTS

Record revenues and record costs in 2017, with resulting NOR Loss of $5.1 million compares to $4.0 million in 2007; which equates to a 2.5% 10-year CAGR.

MEMBERS' – OPERATING FUND OPERATINGEQUITY FUND

ACCUMULATED NET RESULTS, CONTINGENCY OPERATING FUND ACCUMULATED NET RESULTS, CONTINGENCY $5,000,000 $4,403,711

$4,000,000

+ $1.2 million favorable results in 2017 - $1.5 million transfer to Replacement Reserve Fund - $1.8 million transfer to Development Fund

$3,000,000

- $2.1 million, 2017 change in Operating Fund equity

$2,291,562

$2,000,000

$1,000,000

$0

2007

2008

2009

FROM THE 2007 BUDGET TO THE 2017 BUDGET 10-YEAR CAGR 3.7% OPERATING REVENUE GROWTH 4.0% OPERATING COSTS GROWTH 4.7% NET OPERATING RESULT LOSS (RESULTING ANNUAL ASSESSMENT)

4

| TAHOE DONNER 2017 ANNUAL REPORT

2010

2011

2012

2013

Costs are greater than revenues (every year) and the costs have grown at a slightly higher growth rate. Therefore, the resulting NOR Loss growth rate is higher.

Further, the two seasons of winter drought lowered revenue budget in 2017 and recent regulatory cost pressures have added significant cost increases.

2014

2015

2016

2017

FOR 2018 BUDGET The strong financial performance in 2016 and 2017 combined for a substantial increase in operating revenue expectations in the 2018 Budget. The 2017 Budget was $11.0 million, while the 2018 Budget is $12.5 million, a key factor in allowing a reduced Operating Fund annual assessment funding requirement.

NET RESULTS AFTER REPLACEMENT RESERVES CAPITAL CHARGE

BY DEPARTMENT

CHART DOLLARS IN THOUSANDS

BEACH CLUB MARINA

Net Results after Reserves Capital Charge is NOR plus a Replacement Reserves Capital Charge.

SNOWPLAY

197 151 184 118 2 164

Net Operating Results (NOR) is defined as the net result of operating revenues less cost of goods sold and operating payroll and expenses.

-147 -90 -94

All amenity departments amounts do not have allocated overhead for administrative, accounting, human resources and IT support costs.

-5

5

-8

Refer to pages 6 and 7 for additional details.

-57 -62 -55 -113 -104 -50

2017 ACTUAL $-8,975,000

-2 -24 -17

2017 BUDGET $-10,163,000 2016 ACTUAL $-8,038,000

AMENITIES

151

CAMPGROUND

ALDER CREEK CAFE

CAMPS + PROGRAMS TROUT CREEK RECREATION CENTER + AQUATICS

-107 -101 -64

PIZZA ON THE HILL

-166 -145 -141

EQUESTRIAN CENTER

-168 -163 -122

THE LODGE, SUMMER LUNCH + GOLF FOOD SERVICE

-337 -443 -295

THE LODGE, DINING + BANQUETS

-221 -268 -217

TRAILS

-86 -241 -6

CROSS COUNTRY SKI CENTER

-545

-344 -433 -349

ADMINISTRATION

BIKEWORKS

-195 -411 -280

-1,145 -1,036 -916 48

TENNIS CENTER

-1,164 -1,216 -1,069 -894 -907 -922

GOLF COURSE

DOWNHILL SKI RESORT ARCHITECTURAL + MEMBER SERVICES MAINTENANCE FORESTRY, DEFENSIBLE + OPEN SPACE

-1,755 -1,742 GENERAL -1,565 DEFINED ON PAGE 6 -2,432 -2,390 -2,367

-$2,500

-$2,250

-$2,000

-$1,750

-$1,500

-$1,250

-$1,000

-$750

-$500

-$250

$0

NEGATIVE

MANAGEMENT, ACCOUNTING, IT, PERSONNEL $250

$500

POSITIVE

TAHOE DONNER 2017 ANNUAL REPORT |

5

OPERATING FUND

2017 DEPARTMENTAL RESULTS AMOUNTS INCLUDING MEMBER'S

2017 ACTUAL GROSS REVENUE

COST OF GOODS SOLD

OPERATING EXPENSES

NET OPERATING RESULTS

CONTRIBUTION TO REPLACEMENT RESERVE FUND

-27,127

$ -1,063,515

$ 115,292

$ -310,104

2017 NET RESULTS AFTER CAPITAL

PRIVATE AMENITIES Trout Creek Recreation Center $ 1,205,934

and Aquatics

$

$

-194,812

Beach Club Marina

686,296

-58,614

-338,857

288,825

-92,091

196,734

Tennis Center

225,777

-35,789

-190,610

-622

-146,009

-146,631

Camps and Programs

407,899

-2,752

-391,886

13,261

-15,664

-2,403

$2,525,906

$ -124,282

$ -1,984,868

$ 416,756

$ -563,868

Downhill Ski

3,667,599

-205,944

-2,783,658

677,997

-630,263

47,734

Cross Country Ski

1,005,397

-52,080

-780,293

173,024

-259,034

-86,010

Snowplay

263,541

-5,365

-128,468

129,708

-11,557

118,151

Golf

994,199

-59,577

-1,188,643

-254,021

-890,768

-1,144,789

TOTAL PRIVATE AMENITIES

$

-147,112

PUBLIC AMENITIES

Campground

64,233

0

-71,923

-7,690

-48,829

-56,519

195,762

-6,111

-292,800

-103,149

-62,477

-165,626

951

0

-102,418

-101,467

-119,885

-221,352

110,155

-44,402

-68,486

-2,733

-2,433

-5,166

238,767

-75,649

-293,594

-130,476

-37,546

-168,022

2,444,853

-749,702

-1,787,040

-91,889

-245,264

-337,153

Pizza on the Hill

518,002

-168,174

-421,089

-71,261

-35,431

-106,692

Alder Creek Cafe

399,681

-143,323

-361,260

-104,902

-8,213

-113,115

$9,903,140

$ -1,510,327

$ -8,279,672

$ 113,141

$ -2,351,700

$ -2,238,559

$12,429,046

$ -1,634,609

$ -10,264,540

$ 529,897

$ -2,915,568

$ -2,385,671

Equestrian Trails Bikeworks The Lodge, Lunch + Golf Food Service The Lodge, Dining + Banquets

TOTAL PUBLIC AMENITIES

TOTAL AMENITIES

HOMEOWNERS ASSOCIATION AND AMENITIES SUPPORT SERVICES General (g)

184,934

0

-1,672,324

-1,487,390

-269,215

-1,756,605

266,933

0

-2,562,402

-2,295,469

-136,538

-2,432,007

210,001

0

-545,113

-335,112

-8,424

-343,536

25,639

0

-835,369

-809,730

-83,776

-893,506

0

0

-725,045

-725,045

-438,479

-1,163,524

0

$ -6,340,253

$ -5,652,746

$

-936,432

$ -6,589,178

Management, Accounting, Human Resources, IT Architectural and Member Services Forestry, Defensible Space, Open Space Maintenance TOTAL HOA

$

TOTAL OPERATING RESULTS

$ 13,116,553

$ -1,634,609

$ -16,604,793

$ -5,122,849

$ -3,852,000

$ -8,974,849

6,310,700

0

0

6,310,700

3,852,000

10,162,700

TOTAL OPERATING FUND $ 19,427,253

$ -1,634,609

$ -16,604,793

$ 1,187,851

0

$ 1,187,851

Assessment Revenues

687,507

$

$

(g) General department includes homeowner association services costs including property and income taxes, legal fees, loss prevention, insurance, annual and board meetings, Tahoe Donner News magazine (revenue and costs), and utilities and maintenance for majority of Northwoods Clubhouse facility.

Net Operating Results (NOR) is defined as the net result of operating revenues less cost of goods sold and operating expenses.

The amenity departments costs do not have allocated overhead for administrative, accounting, human resources or IT support costs.

These amenities support costs are in respective departments under the Homeowners Association and Support Services section.

6

| TAHOE DONNER 2017 ANNUAL REPORT

YEAR ENDING DECEMBER 31, 2017 REPLACEMENT RESERVE CAPITAL CONTRIBUTION 2017 PER PROPERTY 6473

$

$

-30

2016 PER PROPERTY 6473

$

-43

$

2017 NOR VERSUS BUDGET

2017 VS 2016

2017 BUDGET

13

$ -100,400

2017 NOR VERSUS PRIOR YEAR

ACTUAL TO BUDGET VARIANCE

$

215,692

2017 TO 2016 VARIANCE

2016 ACTUAL

$

22,362

$

92,930

30

28

2

242,700

46,125

273,641

15,184

-23

-14

-9

56,300

-56,922

51,830

-52,452

0

-3

3

-8,600

21,861

-2,276

15,537

9

$ 190,000

$ 226,756

$ 345,557

-23

$

-32

$

$

71,199

7

23

-16

85,000

592,997

667,793

10,204

-13

-1

-12

18,100

154,924

204,248

-31,224

18

25

-7

13,900

115,808

174,941

-45,233

-176

-140

-36

-144,800

-109,221

-98,544

-155,477

-9

-8

-1

-13,000

5,310

-6,728

-962

-26

-22

-4

-82,100

-21,049

-83,449

-19,700

-34

-34

0

-148,600

47,133

-109,161

7,694

-1

-1

0

7,000

-9,733

-6,002

3,269

-26

-19

-7

-125,500

-4,976

-86,145

-44,331

-52

-46

-6

-198,000

106,111

-63,905

-27,984

-16

-10

-6

-65,800

-5,461

-27,743

-43,518

-17

-8

-9

-96,200

-8,702

-42,354

-62,548

$ -345

$ -241

$ -104

$ -750,000

$

863,141

$ 522,951

$ -409,810

$ -368

$ -273

$

-95

$ -560,000

$ 1,089,897

$ 868,508

$ -338,611

-271

-242

-29

-1,473,100

-14,290

-1,299,716

-187,674

-376

-366

-10

-2,253,100

-42,369

-2,231,835

-63,634

-53

-54

1

-424,700

89,588

-341,087

5,975

-138

-142

4

-823,000

13,270

-844,037

34,307

-180

-165

-15

-777,100

52,055

-655,442

-69,603

-49

$-5,751,000

$

98,254

$ -5,372,117

$ -280,629

$ -1,018

$

$ -1,386

$ -1,242

$ -144

$-6,311,000

$ 1,188,151

$ -4,503,609

$ -619,240

1,570

1,620

-50

6,311,000

-300

6,953,045

-642,345

378

$ -194

0

$ 1,187,851

$ 2,449,436

$ -1,261,585

$

184

$

-969

$

$

See pages 8-9 for Results by Department Highlights

TAHOE DONNER 2017 ANNUAL REPORT |

7

OPERATING FUND

2017 HIGHLIGHTS VERSUS BUDGET FAVORABLE VARIANCE TO BUDGET

UNFAVORABLE VARIANCE TO BUDGET

NOR = Net Operating Results. NOR is defined as the net result of operating revenues less cost of goods sold and operating payroll and expenses. NOR does not include any allocated overhead or capital costs.

PUBLIC AMENITIES DOWNHILL SKI

CAMPGROUND

GOLF

NOR $678,000

NOR LOSS ($8,000)

NOR LOSS ($254,000)

FAVORABLE $593,000 / 698% TO BUDGET

FAVORABLE $5,000 / 41% TO BUDGET ANNUAL: Visits up 12%; Revenue up $7,000/13%; Costs up $2,000/3%

UNFAVORABLE -$109,000 / 75% TO BUDGET

Great snow in Winter 2016/2017, a second great season following two drought seasons.

December 2017 opened with Snowbird only during holidays due to snowmaking efforts and had good holiday business levels.

ANNUAL: Visits up 39%; Revenue up $1,281,000/54%; Record revenues of $3.7 million

TRAILS NOR LOSS ($101,000) FAVORABLE $47,000 / 32% TO BUDGET Good cost controls and focus on Trails Master Plan execution, as well as consistent and effective trails maintenance.

CROSS COUNTRY SKI NOR $173,000 FAVORABLE $155,000 / 856% TO BUDGET Great snow in Winter 2016/2017, a second great season following two drought seasons.

December 2017 operated with minimal snow coverage, but enough for some holiday business levels.

ANNUAL: Visits up 4%; Revenue up $305,000/44%; Costs up $150,000/22%

EQUESTRIAN NOR LOSS ($103,000)

BIKEWORKS NOR LOSS ($3,000) UNFAVORABLE -$10,000 / 139% TO BUDGET Continued growth in bike rentals, retail, services and tours. Costs over Budget primarily due to retail sales growth.

UNFAVORABLE -$21,000 / 26% TO BUDGET Average business levels; boarding, camps and trail rides. New campus improvements received very well.

ANNUAL: Visits up 1%; Revenue down $10,000/5%; Costs up $11,000/4%

THE LODGE SUMMER F+B NOR LOSS ($130,000) UNFAVORABLE -$5,000 / 4% TO BUDGET The Lodge's summer lunch service, golf snack bar and bar cart, and Trout Creek's poolside Marco Polo Grill. Season impacted negatively by golf's decline in volume. Cost impacted by labor market pressures from CA minimum wage increases and FED ACA. ANNUAL: Revenue down $27,000/10%; Costs down $22,000/6%

8

| TAHOE DONNER 2017 ANNUAL REPORT

NOR LOSS ($92,000) FAVORABLE $106,000 / 54% TO BUDGET Great volume and continued positive momentum in dining, Pub and banquet events. Cost pressures primarily driven by CA minimum wage, FED Affordable Care Act and the volume increase.

ANNUAL: Visits of 59,825, up 27% to Budget and down 1% to last year; Revenue of $2.44 million (record), up $250,000/11% (up 6% to last year); Costs of $2.54 million (record), up $145,000/6% (up 7% to last year)

Delayed/shortened season due to the record precipitation Winter 2016/2017, no season momentum, average business levels once open, with effective costs management.

ANNUAL: Rounds down 15%; Revenue down $176,000/15%; Costs savings of $67,000/5%

SNOWPLAY NOR $130,000 FAVORABLE $116,000 / 833% TO BUDGET Good snow in Winter 2016/2017, a second great season following two drought seasons.

December 2017 operated minimal due to lack of snow coverage.

ANNUAL: Visits up 24%; Revenue up $89,000/51%; Costs down $27,000/17%

PIZZA ON THE HILL NOR LOSS ($71,000) UNFAVORABLE -$5,000 / 8% TO BUDGET Continuing to improve on margins, quality, service levels and volume. Cost pressures of CA minimum wage continue.

ANNUAL: Revenue up $42,000/9%; Costs up $47,000/9%

ALDER CREEK CAFE NOR LOSS ($105,000) UNFAVORABLE -$9,000 / 9% TO BUDGET Second full year of operations. Continuing to focus on improvement in margins, service levels and volume fluctuations by season and shoulder season operating days and hours refinements.

ANNUAL: Revenue up $190,000/90%; Costs up $199,000/65%

PRIVATE AMENITIES

SUPPORT SERVICES

TROUT CREEK RECREATION + AQUATICS

GENERAL

NOR $115,000

NOR LOSS ($1,487,000)

FAVORABLE $216,000 / 178% TO BUDGET

UNFAVORABLE -$14,000 / 1% TO BUDGET

Good visitation, swim lessons and fitness class volumes; visits up 1%, revenue up 10%, costs down 6%. Rec Fee utilization % at Trout Creek increased. Aquatics programs had an off season. Revenues down 18% and costs down 33% (cost of heating of larger rec pool in winter months less than anticipated).

General HOA costs and communications. Cost savings due to position vacancies, cost overruns for various reasons, including the extreme weather in Q1.

BEACH CLUB MARINA NOR $289,000 FAVORABLE $46,000 / 19% TO BUDGET Member and guest visitation up 7% to Budget and 9% to weather impacted 2016. Strong rental revenues. Revenues up 9% and costs up 2% to Budget. Record revenues of $686,000.

MANAGEMENT, ACCOUNTING, PERSONNEL + I.T. NOR LOSS ($2,295,000) UNFAVORABLE -$42,000 / 2% TO BUDGET Various cost increases driven by the record revenues of the association and NOR favorable to Budget $1.2 million, partially offset by various cost decreases primarily driven by personnel turnover.

ARCHITECTURAL STANDARDS + MEMBER SERVICES NOR LOSS ($335,000)

TENNIS NOR LOSS ($1,000)

FAVORABLE $90,000 / 21% TO BUDGET Revenues up 5% due to volume. Significant cost savings due to vacant positions and the continued difficulties in maintaining adequate staffing levels.

UNFAVORABLE -$56,000 / 101% TO BUDGET Visits up 4%, revenues down 12% and costs up 13%. A decreased proportion of Recreation Fee allocation to tennis (overall an increase), increases in retail and lesson revenues. Costs increase due to growth in lesson programs.

FORESTRY, DEFENSIBLE SPACE + OPEN SPACE NOR LOSS ($810,000) FAVORABLE $13,000 / 2% TO BUDGET

DAY CAMPS + RECREATION PROGRAMS NOR $13,000 FAVORABLE $22,000 / 43% TO BUDGET DAY CAMPS: $225,000 in revenues, down 8% to Budget and up 9% to 2016. NOR of $34,000 was unfavorable $9,000 to Budget and flat to 2016. Good program participation, however cost increases due to expanded kid programs and CA labor law impacts.

RECREATION: Two evenings in a row of Concerts on the Green, with sellout crowds and lower costs than budgeted. Member events remain popular. Revenue of $183,000 was 5% favorable to budget and costs of $204,000 were 10% favorable to budget.

Trails, forest health, defensible and open space management. Cost savings primarily due to high snow levels impacting the length of the available summer work season.

MAINTENANCE NOR LOSS ($725,000) FAVORABLE $52,000 / 7% TO BUDGET Common area property, buildings and vehicles maintenance. Cost savings due primarily to extreme winter snow removal efforts in Q1 driving greater cost charging out to amenities for these services (maintenance staff spent extraordinary amount of time on snow removal efforts instead of general maintenance).

TAHOE DONNER 2017 ANNUAL REPORT |

9

CAPITAL RESERVES

REPLACEMENT RESERVE FUND REPLACEMENT RESERVE FUND

MEMBERS EQUITY EQUITY (FUND BALANCE) AND PERCENT FUNDED MEMBERS (YEAR-END FUND BALANCE) + PERCENT FUNDED 33%

$10,000,000 $9,000,000

27%

$8,000,000 $7,000,000 $6,000,000

27%

25%

20%

30%

28%

27%

26%

25%

21% 19%

19%

20%

$5,000,000

15%

$4,000,000 $3,000,000

10%

$2,000,000

5%

$1,000,000 $0

35%

PERCENT FUNDED*

YEAR-END MEMBERS EQUITY BALANCE

$11,000,000

2007

2008

2009

2010

2011

• The Replacement Reserve Fund is the capital reserve fund for existing asset components of the association. This is a savings fund utilized to replace and preserve assets of the association as they depreciate over time. There are over 2,000 components in the reserve study, which is updated every year, and a complete physical inspection of all components is performed every three years.

• The association has a Replacement Reserve Fund policy which provides for a target minimum of 25% Funded.* • The reserve study does not include the replacement of existing buildings, see Development Fund below.

2012

2013

2014

2015

2016

2017

0%

• The funding level from annual assessment generally needs to increase each year to keep pace with inflation.

• The association has a fiduciary duty to adequately reserve for the preservation of assets, which ultimately protects property values.

• In 2017, the Board of Directors approved a $1,500,000 transfer from Operating Fund members equity to this fund.

• The 2017 assessment funding level was $595 per owner or $3,852,000, an increase of 9% over 2016.

• The 2018 assessment funding level was $620 per owner or $4,013,000, an increase of 4% over 2017.

*Percent (%) Funded is the measure of the fund balance to the Fully Funded – 100% funded reserve study amount. The Fully Funded – 100% balance is total accrued depreciation.

An indicator against which actual (or projected) reserve balance can be compared. The direct proportion of the fraction of life “used up” of the current repair or replacement cost.

This number is calculated for each component and summed together for the association in total. Refer to 2018 Budget Report for more information on the reserve study.

DEVELOPMENT FUND DEVELOPMENT FUND

MEMBERS EQUITY(FUND (YEAR-END FUND BALANCE) MEMBERS EQUITY BALANCE) $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0

2007

2008

2009

2010

2011

• The Development Fund was established as authorized in the governing documents of the association to accumulate funds for large-scale projects identified as necessary due to the new capacity requirements, or changing needs of the association.

• The Association Master Plan guides the prioritization of the numerous projects identified for Development Fund expenditure. This Plan is actively being updated in 2017 and 2018, led by the Board and the General Plan Committee, including numerous member open meetings

10

| TAHOE DONNER 2017 ANNUAL REPORT

2012

2013

2014

2015

2016

2017

on this subject, articles in Tahoe Donner News magazine and on our website, tahoedonner.com.

• In 2017, the Board of Directors approved a $1,800,000 transfer from Operating Fund members equity to this fund.

• The 2017 assessment funding level was $300 per owner or $1,942,000, an increase of 20% over 2016.

• The 2018 assessment funding level was $310 per owner or $2,007,000, an increase of 3% over 2017.

CAPITAL EXPENDITURES

CAPITALFUNDS FUNDS CAPITAL EXPENDITURESBYBY YEAR EXPENDITURES YEAR

10 10YEAR YEARTOTAL TOTAL==$42.5 $40.8MILLION MILLION

$9,000,000 8.0M

$8,000,000 $7,000,000

6.1M

$6,000,000

5.4M

5.4M

$5,000,000 4.1M

$4,000,000 $3,000,000 $2,000,000

3.9M

3.4M

1.9M

2.4M

2.1M

$1,000,000 $0 2008

2009

2010

2011

REPLACEMENT RESERVE FUND

2012

2013

DEVELOPMENT FUND

2014

2015

2016

2017

NEW EQUIPMENT FUND

$42.5 million equates to a 10-year average of $4.25 million in Capital Fund expenditures per year. The 10-year average of depreciation expense is $2.5 million per year for a total of $25 million. Note that many high-age assets are fully depreciated and now have no annual depreciation expense. The net effect is a growth in net fixed assets; over the 10 years a CAGR of 3.8% in net fixed assets.

CAPITAL INVESTMENT OVER THE 10 YEARS INCLUDES:

Growing from $28 million at the end of 2007 to $41 million at the end of 2017. Bottom line – reinvesting in the association, the assets value grew at a 3.8% growth rate.

$17.8 million in Development Fund capital investments, including:

This, as opposed to limited or less capital spending, would have equated to a decline in net assets.

THE BOARD HAS A FIDUCIARY RESPONSIBILITY (BY LAW) TO DO WHAT IS BEST FOR THE ASSOCIATION, BOTH NOW AND FOR THE FUTURE. CURRENT OWNERS HAVE THE RESPONSIBILITY TO PAY FOR THE DEPRECIATION OF ASSOCIATION ASSETS, NOT TO DEFER THE BURDEN TO FUTURE OWNERS. PROPERLY MAINTAINING OUR ASSETS PROTECTS OWNERS’ PROPERTY VALUES.

$23.0 million in replacement and major repairs of existing assets (per reserve study plan) $2.3 million per year 10-year average, maintaining existing asset components $2.0 million per year first 5 years average, maintaining existing asset components $2.6 million per year second 5 years average, maintaining existing asset components The increase from 2008-2012 to the 2013-2017 average is due to the overall aging of assets and the impact of Development Fund projects on related reserve components.

Euer Valley land 482 acres (2012) Forestry building and 20 acres (2012) The Lodge expansion – kitchen, covered porch and pro shop (2013) Alder Creek Adventure Center building (2014-2015) Downhill Ski Area snowmaking investment (2014) Solar projects at three locations (2015-2016) Equestrian campus relocation and upgrades (2015-2016-2017) Crabtree Canyon land 640 acres (2016) Alder Creek Adventure Center exterior storage building (2017)

$1.7 million in New Equipment Fund capital investments $172,000 per year average

TAHOE DONNER 2017 ANNUAL REPORT |

11

CAPITAL FUNDS REPLACEMENT RESERVE FUND

33% FUNDED

Replacement Reserve Funds as of 12/31/2017 ratio to Replacement Reserve Component total costs on 100% Funded Method calculation.

See page 10 for by-year trends.

$3.2 MILLION | 2017 Expenditures • $741,000 GOLF COURSE carts fleet, cart path asphalt and course maintenance equipment • $536,000 DOWNHILL SKI uniforms, deck resurfacing, painting, rental and operating equipment • $381,000 INFORMATION TECHNOLOGY equipment • $340,000 AQUATICS pools and spas equipment • $135,000 FORESTRY defensible space mastication and storm damage • $125,000 CROSS COUNTRY SKI rental and operating equipment, trails and facility maintenance • $111,000 THE LODGE kitchen equipment, exterior staining and facility maintenance • $101,000 SUMMER TRAILS maintenance The Replacement Reserve Fund is used to account for financial resources designated for the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the association is obligated by state law and sound business practices to repair, restore, replace or maintain. A 30-year reserve funding and expenditure plan is produced every three years and updated annually to schedule and analyze the funding and expenditure needs.

Over 2,000 individual items are tracked in this plan, with a current replacement value of $51 million. A complete study and plan was performed in 2016 and is updated annually.

The year-end fund balance increased by $2.3 million or 30%. This increase includes a $1.5 million transfer in from the Operating

12

| TAHOE DONNER 2017 ANNUAL REPORT

REPLACEMENT RESERVE FUND CONTINUED

Fund. These transfer funds were generated by favorable net operating results by the Operating Fund. The transfer amount to this fund was due primarily to the anticipated known need to replace the Snowbird chairlift in 2018.

28% FUNDED

Excluding 2017 $1.5 million transfer in.

DEVELOPMENT FUND $510,000 | 2017 Expenditures • $90,000 ALDER CREEK ADVENTURE CENTER storage building addition • $76,000 EQUESTRIAN campus improvements • $66,000 TROUT CREEK RECREATION CENTER planning • $42,000 DOWNHILL SKI master planning • $34,000 TRAILS improvements The Development Fund is specifically intended for and authorized in the governing documents of the association.

The Development Fund was established to accumulate funds for use in the development of and additions to facilities identified by the board as necessary due to new capacity requirements of the association, or changing needs of the community.

The Development Fund includes funds accumulated for the specific purpose of replacing existing buildings, as only certain components of buildings are in the Replacement Reserve study.

The year-end fund balance increased by $3.3 million or 652%. This increase includes a $1.8 million transfer in from the Operating Fund. These transfer funds were generated by favorable net operating results by the Operating Fund. The transfer amount to this fund was made primarily due to the anticipated known need to address the aging (47 years old) Downhill Ski lodge skier services building.

NEW EQUIPMENT FUND $170,000 | 2017 Expenditures • $29,000 DAY CAMPS equipment and facility improvements • $18,000 RECREATION sound equipment and telescope • $13,000 CROSS COUNTRY SKI snowmobile • $13,000 EQUESTRIAN covered paddocks • $12,000 MEMBER SERVICES customer service software • $6,000 SECURITY equipment The New Machinery and Equipment Fund is used to account for financial resources designated for the acquisition of new assets identified as necessary for the association to be more efficient in operations or to provide new services to the membership.

The year-end fund balance increased by $25,000 or 32%.

PROPERTY FUND The Property Fund is used to account for the association’s investment in its fixed assets. Capital additions to fixed assets totaled $2,851,000 (in 2016 $3,546,000).

Depreciation expense for the year totaled $3,118,000 (in 2016 $2,971,000).

Total gross fixed asset value of $76.3m equates to $11,794 per owner and net book value of fixed assets and construction in progress of $40.7m equates to $6,299 per owner (a decrease of 1% under 2016).

CAPITAL FUNDS SUMMARY YEAR ENDING DECEMBER 31, 2017 2017 ACTUAL

2017 BUDGET

2017 ACTUAL VS 2017 BUDGET

2016 ACTUAL

2017 ACTUAL VS 2016 ACTUAL

REPLACEMENT RESERVE FUND $

Beginning Fund Balance

7,903,234

$

7,000,000

$

903,234

$

6,859,483

$

1,043,751

3,852,000

3,852,000

-

3,534,000

318,000

137,726

51,000

86,726

56,222

81,504

1,500,000

-

1,500,000

-

1,500,000

19,927

20,000

(73)

21,777

(1,850)

Major Maintenance Expenses

(1,003,845)

(760,000)

(243,845)

(514,652)

(489,193)

Expenditures for Capital Additions

(2,170,731)

(2,941,000)

770,269

(2,053,596)

(117,135)

Net Change in Fund Activity for Year

2,335,077

222,000

2,113,077

1,043,751

1,291,326

$ 10,238,311

$ 7,222,000

$ 3,016,311

$ 7,903,234

$ 2,335,077

75,788

40,000

35,788

66,536

9,252

194,000

194,000

-

194,000

-

848

-

848

8

840

-

-

-

-

-

(170,213)

(170,000)

(213)

(184,756)

14,543

24,635

24,000

635

9,252

15,383

Assessment Contribution Interest Income Operating Fund Transfer In Other Revenue + Expense, Net

ENDING FUND BALANCE

NEW EQUIPMENT FUND Beginning Fund Balance Assessment Contribution Interest Income Major Maintenance Expenses Expenditures for Capital Additions Net Change in Fund Activity for Year $

ENDING FUND BALANCE

100,423

$

64,000

$

36,423

$

75,788

$

24,635

DEVELOPMENT FUND Beginning Fund Balance Assessment Contribution Interest Income Operating Fund Transfer In Other Revenue + Expense, Net Fund Expenses for Capital Additions Expenditures for Capital Additions Net Change in Fund Activity for Year ENDING FUND BALANCE

CAPITAL FUND TOTALS

499,052

194,000

305,052

192,497

306,555

1,942,000

1,618,000

324,000

1,618,000

324,000

26,848

2,000

24,848

3,844

23,004

1,800,000

-

1,800,000

-

1,800,000

(4,972)

(8,000)

3,028

(7,416)

2,444

-

-

-

-

-

(509,915)

(532,000)

22,085

(1,307,873)

797,958

3,253,961

1,080,000

2,173,961

306,555

2,947,406

$ 3,753,013

$ 1,274,000

$ 2,479,013

499,052

$ 3,253,961

$

SEE NEXT PAGE FOR SCHEDULE OF EXPENDITURES BY DEPARTMENT

Major Maintenance/Fund Expenses

(1,003,845)

(760,000)

(243,845)

(514,652)

(489,193)

Expenditures for Capital Additions

(2,850,859)

(3,643,000)

792,141

(3,546,225)

695,366

$ (3,854,704)

$ (4,403,000)

$ 548,296

$ (4,060,877)

$ 206,173

TOTAL

The variance between Actual and Budget capital expenditures is primarily driven by the timing of projects between years.

The Board has a fiduciary responsibility (by law) to do what is best for the association both now and for the future.

Current owners have the responsibility to pay for the deprecation of association assets, not defer the burden to future owners. Properly maintaining our assets protects owners' property values.

TAHOE DONNER 2017 ANNUAL REPORT |

13

CAPITAL FUNDS EXPENDITURES

BY DEPARTMENT

– YEAR ENDING DECEMBER 31, 2017 REPLACEMENT RESERVE FUND

NEW EQUIPMENT FUND

DEVELOPMENT FUND

CAPITAL FUNDS TOTAL

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

PRIVATE AMENITIES Trout Creek Recreation Center

$ 40,742

$ 38,817 (a)

$

3,954

$ -

$ 65,995

$ -

$ 110,691

$ 38,817

38,440

-

(2,598)

-

78,304

15,479

3,546

-

-

-

19,89

11,822

Beach Club Marina

42,462

15,479

Tennis Center

16,348

11,822 (a)

332,135

8,067

5,808

-

-

-

337,943

8,067

1,852

-

18,067

-

-

-

19,919

-

$433,539

$ 74,185

$ 69,815

-

$ 63,397

$-

$566,751

$ 74,185

-

-

-

-

662,838

77,964

Northwoods Pool / Aquatics Camps + Recreation Programs TOTAL PRIVATE AMENITIES

PUBLIC AMENITIES Golf

662,838

Downhill Ski

366,442 (c)

169,543 (b)

13,829

-

41,653

-

421,924

169,543

94,706

30,502 (a)

20,983

-

89,700 (f)

-

205,389

30,502

-

7,589

-

Cross Country Ski Campground

77,964 (a)

7,589

-

-

-

Equestrian

25,086

2,500

13,414

-

76,205 (g)

-

114,705

2,500

Trails

58,804

41,770

1,446

-

34,320

-

94,570

41,770

Bikeworks

25,518

-

4,618

-

-

-

30,136

-

The Lodge

63,447

47,327

4,709

-

700

-

68,856

47,327

-

-

-

-

-

-

-

-

2,699

-

3,007

-

-

5,706

-

-

-

-

-

-

-

-

3,460

-

-

TOTAL PUBLIC AMENITIES

$1,310,589

$369,606

TOTAL AMENITIES

$1,744,128

The Lodge, Summer Lunch/Golf F&B Pizza on the Hill Alder Creek Cafe Snowplay

-

-

-

-

-

-

3,460

-

$ 62,006

-

$242,578

$-

$1,615,173

$369,606

$443,791

$131,821

-

$305,975

$-

$2,181,924

$443,791

-

HOMEOWNERS ASSOCIATION General

-

-

-

-

-

-

-

Marketing + Communications

-

-

-

-

-

-

-

-

Facility Administration

-

-

-

180,000 (e)

-

180,000

125,000

63,683

5,069

-

23,940

-

75,951

63,683 109,233

Administration Information Technology

46,942

125,000 (e) 109,233

25,442

-

-

-

297,232

Accounting

-

-

-

-

-

-

-

-

Human Resources

-

17,764

-

-

-

-

-

17,764

12,376

-

-

-

-

-

12,376

-

Architectural Standards Office

271,790 (d)

Member Services

3,279

-

-

-

3,279

-

4,602

-

-

-

4,768

135,029

109,345

-

-

-

-

95,329

109,345

TOTAL HOMEOWNERS ASSOC

$ 426,603 $ 560,054

$ 38,392

$-

$203,940

$-

$ 668,935

$ 560,054

TOTAL

$2,170,731 $1,003,845

$170,213

$-

$509,915

$-

-

Forestry Maintenance

166 95,329

135,029 (a)

$2,850,859 $1,003,845

(a) Winter storm damage of $149,000 across various locations, not budgeted. Includes Forestry $78,000, Golf $20,000, Trout Creek $16,000 Cross Country Ski $11,000, Tennis $11,000. (b) Downhill Ski; includes deck resurfacing of $110,000 (not budgeted in 2017), buildings painting and staining of $30,000, and asphalt maintenance of $16,000. (c) Downhill Ski; includes replacements of uniforms $117,000, rental equipment $93,000, ski lift components $65,000, and trail maintenance $38,000. (d) Information Technology; includes replacements of Architectural Standards Office software, networking & wireless systems, SAN, workstations, webcams, and other. (e) Personnel cost allocations, consistent with Budget and prior years. (f) Alder Creek Adventure Center exterior storage building addition. (g) Equestrian campus improvements phase III capital investment expenditures.

14

| TAHOE DONNER 2017 ANNUAL REPORT

STATEMENT OF LEGAL COMPLIANCE A number of state laws and provisions of its own Governing Documents dictate how Tahoe Donner Association is to manage its financial affairs. Financial reporting, what books and records are to be maintained, how operating and capital needs are determined and funded, how budgets are established, and how member assessments are determined and collected are generally the areas regulated in the financial arena. These regulations can be found in the Association’s Covenants and Restrictions (“C&Rs”) and Bylaws, as well as the Civil Code and the Corporations Code. After a review of these regulations and our practices, the Association Counsel has determined that the Association is in substantial compliance with these requirements.

INDEPENDENT AUDITOR’S REPORT An independent auditor’s report, prepared by Gilbert Associates, and associated financial statements are on pages 15–23 of this Annual Report.

INDEPENDENT AUDITOR’S REPORT BOARD OF DIRECTORS TAHOE DONNER ASSOCIATION TRUCKEE, CALIFORNIA We have audited the accompanying financial statements of Tahoe Donner Association (Association), which comprise the statements of financial position as of December 31, 2017 and 2016, and the related statements of revenues, expenses and changes in members’ equity, and of cash flows for the years then ended.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

AUDITOR’S RESPONSIBILITY Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Association’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

OPINION In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tahoe Donner Association as of December 31, 2017 and 2016, and the changes in its members’ equity and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

OTHER MATTERS Accounting principles generally accepted in the United States of America require that the information on future major repairs and replacements on page 23 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by generally accepted accounting principles, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

GILBERT ASSOCIATES, INC. SACRAMENTO, CALIFORNIA MARCH 19, 2018

TAHOE DONNER 2017 ANNUAL REPORT |

15

TAHOE DONNER ASSOCIATION

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN MEMBERS' EQUITY – DECEMBER 31, 2017 AND 2016

OPERATIONS Amenities

Homeowners Total Association Operating Fund

OPERATING REVENUES: Access and use fees

$

4,887,280

$

4,887,280

Retail sales

4,720,197

4,720,197

Lessons and rental revenue

2,446,622

2,446,622

Other revenues

374,947

$

Interest income 12,429,046

Gross operating revenues Cost of goods sold

637,074

1,012,021

50,433

50,433

687,507

13,116,553

(1,634,609)

(1,634,609)

10,794,437

687,507

11,481,944

Salaries and wages

5,657,073

3,531,706

9,188,779

Payroll taxes and employee benefits

1,647,793

885,698

2,533,491

Supplies and maintenance

Net operating revenues

OPERATING EXPENSES:

1,139,700

514,333

1,654,033

Utilities

606,900

250,546

857,446

Other employee expenses

276,681

170,347

447,028

Insurance

287,200

145,335

432,535

665

665

649,193

841,623

1,490,816

10,264,540

6,340,253

16,604,793

529,897

(5,652,746)

(5,122,849)

6,310,700

6,310,700

657,954

1,187,851

Income tax exposure Other expenses Total operating expenses

NET OPERATING INCOME (LOSS) CAPITAL ACTIVITIES: Capital additions and transfers Gain (loss) on sale or disposal of assets Fund expenses Depreciation expense Total capital activities

ASSESSMENTS: Assessment revenues

INCREASE (DECREASE) IN MEMBERS' EQUITY

$

529,897

$

TRANSFERS BETWEEN FUNDS

(3,300,000)

MEMBERS' EQUITY, December 31, 2016 MEMBERS' EQUITY, December 31, 2017

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

16

| TAHOE DONNER 2017 ANNUAL REPORT

4,403,711 $

2,291,562

TAHOE DONNER ASSOCIATION

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN MEMBERS' EQUITY – DECEMBER 31, 2017 AND 2016

CAPITAL

Replacement Reserve Fund

$

New Machinery + Equipment Fund

137,726

$

137,726

Development Fund

848

$

848

137,726

TOTALS

848

Property Fund

Total 2017

Total 2016

$

$

4,767,825

4,720,197

4,522,519

2,446,622

2,448,610

1,012,021

1,007,560

26,848

215,855

84,589

26,848

13,281,975

12,831,103

(1,634,609)

(1,552,910)

11,647,366

11,278,193

9,188,779

8,703,131

2,533,491

2,413,444

1,654,033

1,700,232

857,446

851,321

447,028

301,557

432,535

412,453

26,848

15,563

2,373

18,601

39,450

(610)

2,599

1,492,805

1,326,416

14,953

4,972

16,624,718

15,748,004

(4,977,352)

(4,469,811)

18,264

28,632

(1,003,845)

(514,652)

122,773

848

21,876

(2,170,731)

(170,213)

(509,915)

$

2,850,859 (16,616)

34,880 (1,003,845) (3,139,696)

(170,213)

(509,915)

3,852,000

194,000

1,942,000

835,077

24,635

1,453,961

1,500,000

10,238,311

(3,118,291)

(3,118,291)

(2,971,289)

(284,048)

(4,103,872)

(3,457,309)

12,298,700

12,299,045

(284,048)

3,217,476

4,371,925

41,006,180

53,887,965

49,516,040

1,800,000 75,788

7,903,234 $

4,887,280

$

100,423

499,052 $

3,753,013

$

40,722,132

$

57,105,441

$

53,887,965

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

TAHOE DONNER 2017 ANNUAL REPORT |

17

TAHOE DONNER ASSOCIATION

STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2017 AND 2016 Operating Replacement Fund Reserve Fund

New Machinery + Development Equipment Fund Fund

Property Fund

Total 2017

Total 2016

ASSETS Cash

$

Cash, designated and restricted

812,527 345,396

Investments

$ $

281,959

$

68,867

$

57,600

5,057,220

Investments, designated and restricted

11,098,598

100,000

4,288,799

812,527 $ 1,304,203 753,822

517,133

5,057,220

6,570,883

15,487,397

10,196,207

243,407

289,148

301,317

128,842

Assessments and other member receivables, net of allowance for doubtful accounts of $81,135 in 2017 and $96,388 in 2016

243,407

Other receivables

111,779

179,523

375

9,640

Inventory

346,432

346,432

335,337

Prepaid expenses and other assets

575,053

575,053

687,119

40,722,132

41,006,180

Due from (to) other funds

(138,138)

130,105

11,277

(3,244)

Net property and equipment

TOTAL ASSETS

$ 40,722,132 $ 7,353,676 $ 11,690,185 $

180,519

$ 4,352,795 $ 40,722,132 $ 64,299,307 $ 61,035,052

LIABILITIES AND MEMBERS' EQUITY Accounts payable

$

Deferred revenues

444,397 $ 3,047,576

Deposits from members

224,438 $ 1,224,764

5,868 $ 74,228

5,549 593,825

232,316

215,246

408

1,340,905

1,294,547

7,193,866

7,147,087

57,105,441

53,887,965

1,337,825

2,672

TOTAL LIABILITIES

5,062,114

1,451,874

80,096

599,782

MEMBERS' EQUITY

2,291,562

10,238,311

100,423

3,753,013

180,519

| TAHOE DONNER 2017 ANNUAL REPORT

40,722,132

$ 4,352,795 $ 40,722,132 $ 64,299,307 $ 61,035,052

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

18

742,992 4,894,302

232,316

$ 7,353,676 $ 11,690,185 $

680,252 $ 4,940,393

Accrued liabilities

TOTAL LIABILITIES AND MEMBERS' EQUITY

$

TAHOE DONNER ASSOCIATION STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2017 AND 2016 Operating Replacement Fund Reserve Fund

New Machinery + Development Equipment Fund Fund

Property Fund

Total 2017

Total 2016

CASH FLOWS FROM OPERATING ACTIVITIES: Increase (decrease) in

$

1,187,851 $

835,077

$

24,635 $ 1,453,961 $ (284,048) $ 3,217,476 $ 4,371,925

Members' Equity Reconciliation to net cash provided by operating activities: Depreciation expense

3,118,291

Capital additions and transfers

2,170,731

170,213

509,915

3,118,291

2,971,289

(18,264)

(28,632)

45,741

19,981

(2,850,859)

(Gain) loss on sale or disposal of property and equipment

(34,880)

16,616

Changes in: Assessments receivable

45,741

Other receivables

(172,475)

(34,744)

Inventory

(11,095)

(168,168)

(11,095)

(23,050)

Prepaid expenses and other assets

112,066

112,066

66,090

Due from (to) other funds

(16,608)

5,547

(6,141)

17,202

Accounts payable

(18,635)

(26,898)

(13,767)

(3,440)

(62,740)

311,756

Deferred revenues

(53,015)

70,971

16,054

12,081

46,091

148,279

17,070

(13,594)

(3,292)

46,358

131,574

190,619

1,978,015

6,338,519

7,920,874

(170,213)

(509,915)

(2,850,859)

(3,546,225)

34,880

40,637

(4,291,685)

(23,732,720)

(30,479,132)

1,052,622

19,955,193

26,559,289

(3,748,978)

(6,593,506)

(7,425,431)

4,480

Deposits from members

17,070

Accrued liabilities

46,978

2,672

1,314,833

2,855,052

(375)

(8,412)

Net cash provided by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment

(2,170,731)

Proceeds from sale of property and equipment

34,880

Purchases of investments Proceeds from sale of investments

(8,138,851)

(11,302,020)

9,652,514

9,250,057

1,513,663

(4,187,814)

(164)

Net cash provided (used) by investing activities

(170,377)

CASH FLOWS FROM FINANCING ACTIVITIES: Transfers between funds

(3,300,000)

1,500,000

(471,504)

167,238

20,242

29,037

(254,987)

495,443

1,629,427

114,721

48,625

28,563

1,821,336

1,325,893

281,959 $

68,867

NET INCREASE (DECREASE) IN CASH CASH, Beginning of Year CASH, End of Year

$ 1,157,923 $

1,800,000

$

57,600 $

$

4,961 $

$ 1,566,349 $ 1,821,336

OTHER CASH FLOW INFORMATION: Income taxes paid

$

9,320 $

32,536 $

$

46,817

$

39,450

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

TAHOE DONNER 2017 ANNUAL REPORT |

19

NOTES TO FINANCIAL STATEMENTS 1

OPERATIONS

Tahoe Donner Association (Association) is a California nonprofit mutual benefit corporation. The Association’s members own the 6,473 membership properties within the Tahoe Donner subdivision in Truckee, California. The Association was organized to provide management services and maintenance of certain common areas owned by the Association. A significant portion of revenue is derived from the assessment of member dues.

The Association operates and maintains facilities, which include a golf course and pro shop, restaurant, downhill ski area, clubhouse, Nordic ski area, beach and marina area, equestrian center, campground, tennis facilities, recreation complex, pools and parks.

2

Revenues are derived from member and non-member usage of these facilities.

The Association’s Board of Directors is comprised of five members elected to serve three-year terms by a vote of the members. The Board of Directors governs in accordance with the Association’s bylaws and declaration of covenants and restrictions. The Board of Directors establishes members’ dues and user fees, and has the ability to enter into long-term contracts. Along with other actions, closing an Association amenity (as defined by the governing documents) requires a vote of the members.

SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION – The Association’s governing documents provide certain guidelines for governing its financial activities. To ensure observance of limitations and restrictions on the use of financial resources, the Association maintains its accounts using fund accounting. Financial resources are classified for accounting and reporting purposes in the following funds established according to their nature and purpose:

ACCESS AND USE FEE REVENUES – Daily fees are charged for access to and use of Association amenities. As an alternate to daily fees, the Association sells recreation passes to members that entitle them to use of various amenities. Revenues from these sales are allocated to the various amenities based upon recreation pass usage.

OPERATING FUND – Used to account for financial resources available for the general operations of the Association.

The Association minimizes credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits.

The Association has not experienced any losses in such accounts and management believes the Association is not exposed to any significant credit risk related to cash.

REPLACEMENT RESERVE FUND – Used to account for financial resources designated for the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the Association is obligated to repair, restore, replace or maintain and for which the Replacement Reserve Fund was established.

NEW MACHINERY AND EQUIPMENT FUND – Used to account for financial resources designated for the purchase of new machinery, equipment, furnishings and fixtures.

DEVELOPMENT FUND – Used to account for financial resources designated for use in the acquisition and enhancement of facilities, equipment and other resources.

PROPERTY FUND – Used to account for the Association’s investment in its common property and equipment, and other Association real property.

ASSESSMENT REVENUE – Association members are subject to annual dues to provide funds for the Association’s operating expenses, major repairs and replacements, development and purchase of new machinery and equipment. Assessment revenue is recognized in the assessment period. Assessments received in advance are deferred until earned. The Association has the right to suspend certain membership rights and pursue collection through foreclosure action. Bad debts are recognized when an account’s collectability is uncertain.

CASH consists of cash on hand, demand deposits at banks and money market funds.

INVESTMENTS consist of debt securities and certificates of deposits, which are carried at amortized cost as the Association has the positive intent and ability to hold all debt securities and certificates of deposit until maturity.

INVENTORIES consist of food and retail goods and are stated at the lower of average cost or market.

PROPERTY AND EQUIPMENT of the Association includes certain facilities and land contributed by Dart in prior years. These assets are reflected in the accounts at the developers’ cost basis. Purchases are stated at cost. The Association capitalizes all expenditures for property and equipment in excess of $2,000. Depreciation is computed using the straight-line method over estimated useful lives of individual assets ranging from 3 to 60 years. These assets are recorded directly in the property fund.

Approximately 3,000 acres of undeveloped non-common area real property owned by the Association is controlled by the Association’s declaration of covenants and restrictions, and bylaws.

INTEREST INCOME is allocated to the Operating, Replacement Reserve, New Machinery and Equipment, Development Funds in proportion to the interest-bearing assets of each fund.

(Continued on next page)

20

| TAHOE DONNER 2017 ANNUAL REPORT

(Continued from previous page)

NOTES TO FINANCIAL STATEMENTS the Association is no longer subject to U.S. federal and state income tax examinations by tax authorities for years prior to 2013.

DEFERRED REVENUE represents funds received for assessments and recreation passes during the current year, which are applicable to the following year.

INCOME TAXES – The Association is generally exempt from federal income taxes under Internal Revenue Code 501(c)(4). For California purposes, the Association is taxed as a regular corporation. As a membership organization, the Association is generally taxed only on non-member income, such as advertising revenue and golf and ski ticket sales to the public, at regular federal corporate tax rates.

The Association has applied the accounting principles related to the accounting for uncertainty in income taxes and has determined there is no material impact on the financial statements. With some exceptions,

3

USE OF ESTIMATES – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures.

Accordingly, actual results could differ from those estimates.

SUBSEQUENT EVENTS have been evaluated through March 19, 2018, the date the financial statements were issued. Management concluded that no material subsequent events have occurred since December 31, 2017 that require recognition or disclosure in the financial statements.

CASH AND INVESTMENTS

At December 31, the Association’s cash and investments consisted of undesignated, designated and restricted accounts as follows: 2017

2016

$ 11,380,557

$ 9,161,356

4,346,399

1,078,299

168,867

148,461

5,869,747

7,875,086

Operating Fund – Trust – restricted (note 7)

110,257

109,983

Operating Fund - Architectural standards deposits - restricted (note 5)

235,139

215,241

$ 22,110,966

$ 18,588,426

Replacement Reserve Fund - designated Development Fund - designated New Machinery and Equipment Fund - designated Operating Fund - undesignated and unrestricted

TOTAL

Board-designated funds in the Replacement Reserve Fund cannot be expended for any purpose other than the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the Association is obligated to repair, restore, replace or maintain and for which the Replacement Reserve Fund was established as mandated by state law.

Designated funds in the Development Fund are controlled by board-adopted policy that affords the board discretion in expenditure, except where member approval is required in connection with the intended project.

Since the Association has the positive intent and ability to hold investments until maturity, they are carried at amortized costs determined by specific identification. Unrecognized holding gains and losses are deemed immaterial.

Investments at December 31, 2017 mature as follows: INVESTMENT

WITHIN 1 YEAR

1-5 YEARS

TOTAL

$ 7,809,254

$ 4,683,530

$ 12,492,784

3,995,852

1,106,451

5,102,303

Municipal bonds

1,477,910

1,477,910

Corporate bonds

1,471,620

1,471,620

$ 8,739,511

$ 20,544,617

U.S. Treasury

Certificates of deposit

TOTAL

$ 11,805,106

TAHOE DONNER 2017 ANNUAL REPORT |

21

NOTES TO FINANCIAL STATEMENTS 4

PROPERTY AND EQUIPMENT

Property and equipment consist of the following: 2017

2016

$ 32,025,984

$ 31,674,341

Fixtures and facility improvements

16,338,817

15,563,456

Equipment

17,817,425

16,861,330

Land and land improvements

9,239,805

9,239,805

921,019

888,694

TOTAL

76,343,050

74,227,626

Less accumulated depreciation

(35,663,909)

(33,357,975)

40,679,141

40,869,651

42,991

136,529

$ 40,722,132

$ 41,006,180

Buildings

Furnishings

Construction in progress TOTAL

5

DEPOSITS FROM MEMBERS

The deposits held by the Association are primarily security deposits from members for the construction of residential real property. The deposits are used to ensure that construction is completed in accordance with the guidelines established by the Association’s Architectural Standards Committee. The funds are deposited in a separate trust account and are refundable upon satisfactory completion of construction.

6

REPLACEMENT RESERVE FUND

The Association’s policy is to maintain replacement funding levels sufficient to pay for capital replacements, refurbishments and repairs.

Replacement funding levels, as determined by a study updated in 2017, are forecast on a 30-year basis with annual updates to replacement schedules, as they become known. Actual expenditures, however, may vary from the estimated amounts and the variations may be material.

If additional funds are needed, the Association has the right, subject to any necessary member approval, to increase regular dues, to levy special assessments, or modify and adjust the scheduled major repairs and replacements as necessary.

7

RETIREMENT PLANS

The Association maintains a salary savings plan for all eligible employees. The Association matches 50% of the first 6% of the participant’s contribution. Matching contributions are 20% vested after the third year of service and vest at the rate of 20% per year thereafter. Matching contributions expense was $88,685 and $94,018 for 2017 and 2016, respectively.

The Association maintains two defined contribution plans which qualify under Section 457(b) and Section 457(f) of the Internal Revenue Code, respectively (the 457 Plans). The 457 Plans allow for additional Association contributions and salary deferrals subject to limitations for eligible executive employees. Contributions to the 457 Plans funds are considered deferred compensation until certain future date conditions are met. The Association’s contribution to the 457 Plans was $51,548 and $50,738 for the years ended December 31, 2017 and 2016, respectively.

8

OPERATING LEASE OBLIGATIONS

The Association has non-cancelable operating leases for copiers, land usage and computer equipment. Rental expense under all operating leases was $116,709 and $198,034 for 2017 and 2016, respectively. Future minimum lease payments under these leases are as follows:

YEAR ENDING DECEMBER 31: 2018

$ 42,880

2019

35,230

2020

18,297

2021

5,752

2022

5,752

Thereafter

1,917

TOTAL

22

| TAHOE DONNER 2017 ANNUAL REPORT

$ 109,828

REQUIRED SUPPLEMENTARY INFORMATION ON FUTURE MAJOR REPAIRS AND REPLACEMENTS DECEMBER 31, 2017 (UNAUDITED) In accordance with state law and sound business practices it is the policy of the Association to fund a reserve program that will adequately provide for repair and replacement of existing Association-owned assets. A 30-year reserve funding and expenditure plan is produced every three years, and updated annually, to schedule and analyze the funding needs. The Association updated its study in 2017 to estimate the remaining useful lives, the lives after replacement and the replacement costs of the components of common property. The estimates were based on estimates from consultants, management, contractors and historical costs. Estimated current replacement costs take into account the effects of inflation between the date of the study and the date that the components will require repair or replacement.

The Association does not designate the balance in the Replacement Reserve Fund by component. The total available for major repairs and replacements at December 31, 2017, was $10,238,000. The 2018 lot assessments include $4,013,000 to be allocated to the Replacement Reserve Fund.

The Association has not included the replacement of building structures as a component of the replacement study. These structures generally have an estimated useful life greater than 30 years. The Association is accumulating funds in the Development Fund for building replacement.

The following table is based on the study and presents significant information about the components of common property for which funds are being set aside.

RANGE OF REMAINING LIVES (YEARS)

ESTIMATED LIFE AFTER REPLACEMENT (YEARS)

Trout Creek, pools and recreation

0-30

1-30

Beach Club Marina

0-30

1-30

1,213,054

Tennis Complex

0-30

1-30

1,822,234

Downhill Ski Resort

0-30

1-30

9,206,992

Cross Country Ski Center

0-30

1-30

3,973,751

Equestrian

0-30

1-30

804,209

Golf Complex

0-30

1-30

10,795,888

Campground

0-30

1-30

613,962

The Lodge Restaurant & Pub

0-30

1-30

3,560,927

Pizza on the Hill

0-30

1-30

458,578

Administration/MIS

0-30

1-30

5,140,083

Forestry

0-30

1-30

1,064,168

General + Building Maintenance

0-30

1-30

3,988,496

Trails

0-30

1-30

1,523,575

Vehicle Maintenance

0-30

1-30

1,531,467

Bikeworks

0-30

1-30

30,473

COMPONENT GROUP

TOTAL

CURRENT REPLACEMENT COSTS $

5,142,305

$ 50,870,162

See independent auditor’s report on required supplementary information.

TAHOE DONNER 2017 ANNUAL REPORT |

23

CAGR = COMPOUND ANNUAL GROWTH RATE

ANNUAL BUDGET – SOURCE OF FUNDS DOLLARS IN THOUSANDS $25,000

$20,000

ANNUAL ASSESSMENT, CAPITAL ANNUAL ASSESSMENT, OPERATING OPERATING REVENUE TOTAL

$10,000

$5,000

$0

$24,759 $23,299

$15,989

$16,844

$19,976 $18,665 47% 11,000

$17,368

$14,741

52% 8,069

52% 7,669

28% 4,273

27% 3,992

50% 8,433

51% 8,220

21% 3,080

20% 3,169

20% 3,269

2007

2008

2009

50% 8,760

51% 9,250

48% 8,925

48% 9,620

27% 5,119

27% 5,450

26% 4,498

25% 4,498

23% 3,914

24% 4,110

24% 4,401

25% 4,621

25% 4,906

2010

2011

2012

2013

2014

27% 4,497

28% 4,500

ANNUAL ASSESSMENT, CAPITAL

$21,497

$20,860

$18,149

$15,511

$15,000

10-YEAR CAGR 2007-2017 2008-2018 6.9% 7.0% 4.7% 3.6% 3.7% 4.4% 4.7% 4.8%

ANNUAL ASSESSMENT, OPERATING

ALL MEMBERS PAY

50% 12,460

43% 9,200

44% 9,210

32% 6,951

31% 6,433

25% 5,217

25% 5,346

2015

2016

27% 6,311

25% 6,085

26% 5,988

25% 6,214

2017

2018

OPERATING REVENUES USERS PAY

(MEMBERS/GUESTS/PUBLIC)

ANNUAL BUDGET – USE OF FUNDS DOLLARS IN THOUSANDS $25,000 CAPITAL FUNDING AMENITIES OPERATING COSTS HOA SERVICES COSTS TOTAL

$20,000

$24,759 $23,299

$20,860

$15,989

$16,844

32% 4,665

32% 5,037

32% 5,107

31% 5,193

31% 5,416

30% 5,445

30% 5,663

$10,000

47% 6,996

47% 7,305

48% 7,613

29% 5,823

46% 9,247

46% 8,303

45% 8,381

24% 4,110

24% 4,401

25% 4,621

25% 4,906

2011

2012

2013

2014

46% 7,737

45% 7,842

23% 3,914

2010

27% 6,352

$18,665

$17,368

$14,741

$21,497

$19,976 $18,149

$15,511

$15,000

10-YEAR CAGR 2007-2017 2008-2018 6.9% 7.0% 4.6% 4.8% 3.1% 3.1% 4.7% 4.8%

29% 6,125

46% 9,518

28% 6,840

30% 6,347

47% 10,959

47% 11,705

26% 5,988

25% 6,214

2017

2018

46% 9,804

$5,000

$0

21% 3,080

20% 3,169

20% 3,269

2007

2008

2009

CAPITAL FUNDING

24

| TAHOE DONNER 2017 ANNUAL REPORT

AMENITIES OPERATING COSTS

25% 5,217

25% 5,346

2015

2016

HOA SERVICES COSTS

NEW LISTING!

SOLD!

12488SchussingWay.com Listed for: $729,000 3 BD | 2 BA | 2,009± s.f.

Easy living, private & adjacent to greenbelt

11042SitzmarkWay.com Listed for $1,295,000. Sold for $1,295,000 4 BD | 4 BA | 3,647± s.f.

Close of Escrow 3/30/18

2018 FIRST QUARTER STATISTICS

May’s Happy Seller Client

Single Family Homes Sold 20

20

17

17

15 10

13

7

9

7

5

3

0

$0 $500,000

$500,001 $750,000

2018

$750,001 $1,000,000

Over $1,000,000

In the last two years, we’ve purchased three homes and sold two homes. Alison acted as buy and sell side on one of our purchases, and sell side on one of our sales.

Having had extensive recent experience on both sides of residential real estate transactions, I can say, without a doubt, that Alison and her team are in a completely different league. The level of expertise, professionalism, deal execution and client service they bring to the table are unmatched. I could not recommend Alison and her team more, whether buying or selling in the Truckee area, and frankly anywhere she chooses to offer her services. Hands down the best.

– Chuck and Teri Bair

2017

ELDER GROUP TAHOE

Alison Elder Real Estate Advisor, Par tner 530.582.8103 tahoe@alisonelder.com eldergrouptahoerealestate.com alisonelder.evusa.com

PARK CITY | TRUCKEE | NEWPORT BEACH | SAN FRANCISCO | LAGUNA BEACH | LONG BEACH | ST. GEORGE ©2018 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. CA BRE License #01399851

TAHOE DONNER ASSOCIATION 11509 NORTHWOODS BLVD. TRUCKEE, CA 96161

Tahoe Donner Single Family Home Sales

!ST$QUARTER$*+!,$vs.$!ST$QUARTER$*+!-

When it comes to understanding the Truckee/Tahoe market, trust the experts at Dickson Realty.

$750,000– $999,999

!ST$QUARTER$*+!,

$1,000,000 and higher

8%

32%

$0– $499,999

$500,000– $749,999

17%

43% $0– 7 Sold Listings $499,999 $433,700 Average Price

42 Average Days On Market

!ST$QUARTER$*+!-

$750,000– $999,999

$1,000,000 and higher

17%

32% $0– $499,999

$500,000– $749,999

9%

42% $0– 5 Sold Listings $499,999 $479,500 Average Price

33 Average Days On Market

$500,000– 17 Sold Listings $749,999 $614,647 Average Price

$500,000– 22 Sold Listings $749,999 $602,318 Average Price

$750,000– 13 Sold Listings $999,999 $840,730 Average Price

$750,000– 9 Sold Listings $999,999 $848,265 Average Price

$1,000,000 3 Sold Listings and higher ﹩"﹐$%&﹐&&&'Average Price

$1,000,000 17 Sold Listings and higher $1,197,852 Average Price

40 Average Days On Market

88 Average Days On Market

() Average Days On Market

43 Average Days On Market

74 Average Days On Market

46 Average Days On Market

March truly turned out to be a “miracle”, with much-needed snow bringing the annual snowfall to levels that have eliminated “drought” concerns. Winter enthusiasts may still get in some skiing/snow-related activities into May and beyond!

First quarter sales were up by 33% over 1st quarter of 2017, with the luxury category (over $1MM) capturing almost one third of the sales.

Number of sales were fairly evenly split between under $750K and over that price point. Average sales prices grew 17% to $823,516.

As of April 3, 2018, there were only 21 single family homes on the market in Tahoe Donner, ranging from $495,000 to $1,499,000. This is the lowest level of available inventory in decades. The condo/townhome market offered only an additional 6 units, ranging from $249,000 for a 1-bedroom condo up to $559,000 for a 3-bedroom ‘stand-alone’ townhome.

If you’re considering selling, this incredibly low level of inventory affords a great opportunity for sellers to realize quick sales at favorable prices. Call one of our Tahoe Donner specialists for a current evaluation, or if you’re thinking of buying, we’ll keep you posted immediately of new offerings coming on the market that might fit your ‘dream home’ criteria. We’re here to provide exceptional selling/buying experiences!

Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 3, 2018.

11836 Donner Pass Road, Truckee 15947 South Shore Drive, Truckee 289 Commercial St, Portola

530.587.7444

DicksonRealty.com