Michael Connolly’s incisive reporting in the Oakmont Observer on the June 25 OGC Purchase Townhall has exposed issues critical to informed voting that is available nowhere else. OVA Town Hall on the OGC Purchase.
Perhaps most important, a huge ambiguity in the Board’s presentation regarding the apparently contemplated lease agreement — that not all but “most” of the operating risk would be shifted to a proposed lease partner — was brought into sharp focus in Connolly’s questioning of Ken Arimitsu, the Board’s expert consultant. Arimitsu said that the first $500,000 in projected annual deficits from the purchased OGC — which he expects to continue for up to 10 years — would be the responsibility of OVA, not the leaseholder. Some shift!