Vail Daily letter: ‘No’ on 5A
The proposed bond issue 5A is an issue that required me to take an interest in Eagle-Vail politics. I believe the voters need to apply common fiscal sense to this decision. It would appear that the current Eagle-Vail Metropolitan District Board believes they need to spend an additional $10.9 million to “keep up with the Joneses” in the golf world.
We need to remember the economic challenges over the last few years including Lehman Brothers, subprime loans and risky investment practices that caused the collapse of the US economy and the recession we are just recovering from. Many markets are still volatile.
Many voters approved of the 2009 debt increase primarily to improve the Eagle-Vail pool. Yet, we still owe $9 million of that debt. The current 5A proposal would add an additional $23 million to the debt of this community. It is not a good idea for a public golf course in a public community which is not a private country club. If we do not pay attention to these taxes and debt burdens, we may be forced to move to other parts of the valley that have lower taxes and debt. The western migration or the pressure to move downvalley is persistent.
We have plenty of evidence in our valley of communities with excess investment in their golf facilities leading to bankruptcy and auctions. We should not create a crisis in Eagle-Vail.
We should recognize the global financial challenges and not repeat those same mistakes like the US debt of $18 trillion and growing. Think global, act local.
Eagle-Vail is already great. The golf course clubhouse is totally functional and we have a great pavilion for meetings, etc. The clubhouse and first tee box were put there for good reason. The clubhouse is iconic with the best view in the community. We don’t need to spend $10 million for golf cart storage or restaurant which will compete with other restaurants for years.
Some of the other proposed amenities may be good for the community but should be looked at on their own merits without being lumped into a large increase in our debt. I encourage everyone to vote “no” on 5A.