A lack of Development Impact Fees haunts the Town of Mammoth Lakes once again. The $13 million Lake Mary Road Bike Path project depended on $2.7 million in DIF for matching funds for the $10 million package of grants. Since none of the projects that were expected to provide that DIF have broken ground, the Town had to look for ways to fund the difference.
The most pressing decision before Council is how to tell the contractor to proceed in the summer of 2009. Council must decide before the end of March whether or not they want to complete the entire project or take a more piecemeal approach and complete sections one and two and leave section three unfinished until a later date. The third section begins at the Twin Lakes Store and runs up to Horseshoe Lake. If section three is delayed, only $10,000 is needed in non-grant funds.
Town staff had come up with eight options for funding the deficit, which included selling the towns portion of the Hospital Parcel to Mono County and borrowing against Measure R funds.
Council woman Jo Bacon told staff not to even consider using Measure R funds, whether appropriate or not, claiming it would look bad to the community. Mayor Pro Tem Neil McCarroll agreed. Another of the eight options was seeking additional grants.