Mammoth Town Council says they will talk about budget and debt

mltcWhen the Mammoth Town Council meets Wednesday, They will spend some more time on next fiscal year’s budget with talk on the Budget Reduction Plan presented last week.

On an earlier issued proposed schedule of public meetings, the Town said the May 16th Council meeting would offer an update from the staff on pre-bankruptcy mediations and on the MLLA settlement process and State Court writ with continued discussion on spending priorities and balancing measures in response to the $43 million debt that comes due June 30th.

Officials have continually promised to talk about details of the ominous debt owed to MLLA, but have actually said very little publicly.  Town Manager Dave Wilbrecht did say that if Mammoth gets to the end of mediation without a settlement with MLLA and the court writ becomes due, “There’s no way” he said, “that the Town can pay it.”  Wilbrecht went on to say that then the Town would be in a fiscal emergency which could lead to bankruptcy.  Then, he said, the Town Council would have to make decisions.

Meanwhile, officials mediated with Town creditors last week, not including MLLA.  Wilbrecht said that his overall impression was that the mediation sessions were “very good.”  He said the mediator, David Coar, a retired federal judge from Chicago, handled the sessions well.  They re scheduled for more talks May 29th.

Citizens now worry over what municipal bankruptcy will mean to their lives.  When asked that question, Mayor Jo Bacon said the public can look at the Town website and Frequently Asked Questions about MLLA.  That document does not address long range and potentially personal impacts on the population in Mammoth.  Bacon said she understands people’s fears, and said only that the experts are working on these answers.  Bacon said things change from day to day.  She said  members of the public can come to the Council meetings and ask any question about the potential bankruptcy.

Wednesday night’s meeting starts with a closed session on litigation at 4pm, a workshop on Measure U at 5pm with the regular meeting starting at 6pm.  The item on the budget and presumably the huge debt is fifth under policy matters which is the last item on the agenda.

 

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5 Responses to Mammoth Town Council says they will talk about budget and debt

  1. Dingo May 15, 2012 at 4:50 pm #

    I guess our leaders, former and current, ain’t as smart as they thought they were.

     
  2. Multiple Choice May 15, 2012 at 7:45 pm #

    The town is facing bankruptcy because of the airport.
    Who would have the most to gain due to the airport mess?

    a) The CEO of Mammoth Mountain
    b) The councilman who wanted a relative with no experience to be an executive
    c) The poor sap citizens who believe everything they’re told

     
    • MJA May 15, 2012 at 9:38 pm #

      D) Terry Ballas and friends

      =

       
      • sierragrl May 16, 2012 at 9:02 am #

        I always found it interesting that Terry Ballas and his family moved out of town, back down south, as soon as the development deal was executed. I’m not sure the guy ever intended to build anything more then hangars….anyone check the airport managers bank accounts? smells like a set up.

         
  3. P&B May 16, 2012 at 7:07 am #

    “Wilbrecht said that his overall impression was that the mediation sessions were “very good.” He said the mediator, David Coar, a retired federal judge from Chicago, handled the sessions well.”

    Another expert opinion from someone who has never dealt with an issue like this before – maybe 3M was holding his hand when he made that assertion…..

     

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