With two ski clubs and a strong Holiday Valley as neighbors, there was no way it could survive.

Poverty Hill had a newspaper documented base elevation of 1900 ft and a 500 ft vertical. Google Earth shows us that that area did have a 1900 ft base elevation but only a 400 ft vertical drop. The trail network on the right has a base elevation of 1722 ft and has a 500 ft vertical drop.

Tonawanda News, Friday, July 24, 1964, page 13
Bankruptcy Declared By Winter Resort
Poverty Hill, a 1,100-acre ski resort in the Town of Ellicottville, Cattaraugus County, yesterday filed bankruptcy.

David Dattner of 60 Marquette Ave., Kenmore, president of the Poverty Hill Development Corp., signed a Federal Court petition Iisting $40l,673 in debts and $52,750 in assets.

One of the largest ski resorts in Western New York, Poverty Hill operated only one winter. It opened in December, 1963, with several ski lifts and a chalet.

Herald News, Avon, Snow Mountain opened for the 73/74 season with three new trails and new snowmaking equipment.

Oswego Valley News, December 3rd, 1975 says:

"Olympus One" became the new name for Snow Mountain, formally known as Poverty Hill. It shows it now has ten trails and slopes, three chairs and two t-bars. The article shows that Snow Mountain operated for two years then changed its name to Olympus One.