Still on schedule for financial discussions and finally meaningful options for settlement of their $41 million debt, Town of Mammoth officials confirmed they are meeting with representatives of the Mammoth Lakes Land Acquisition at the Town Offices this week.
On Tuesday, Town Financial Advisor Marianna Marysheva-Martinez, confirmed the the second meeting with MLLA had just concluded and that the final meeting was scheduled for Wednesday morning (today). The three meetings this week were focused on financial documents the Town has given to MLLA. Martinez said Mammoth wants to make sure MLLA has all questions answered and understands line items and other issues. She said, “We want to make sure their understanding of our budget is okay.”
As an example, Martinez said that the line item of planning would include personnel, programs, goals and accomplishments. “They want to know what’s behind the numbers,” she said. MLLA representatives Terry Ballas and Jay Becker were named as those attending meetings in Mammoth Lakes.
They currently plan to return for more meetings September 12 through the 14th at the Mammoth Town Offices. Martinez had earlier said that the purpose of the meeting in September is to “begin brainstorming ideas regarding possible settlement options that MLLA may be interested in and that the Town could afford, keeping in mind our finances and the resort status.”
Beyond that time, in late September or early October, officials will present what Martinez described as a preliminary and broad set of possible options to the Town Council in closed session. Once the Town Council, Town Management and MLLA narrow down the set of options, according to Martinez, there will be a public process to review and debate them.
Martinez had commented in July that “We hope that all of this will lead to a settlement plan presented to the Council for approval, perhaps as early as December.” The Financial Advisor said that once a plan is approved, there will be a lot of tedious work to implement the actual plan and its impact on the Town.