Mammoth Town Council lists “community update” on MLLA debt

After Measure U Committee concerns and lots of public comment, the Council voted unanimously for a loan from Measure U.In August, Mammoth people heard from their officials that the dreadful $43 million lawsuit judgment debt was settled. A press release told how the court-ordered mediation resulted in a tentative agreement on a settlement with Mammoth Lakes Land Acquisition and developer Terry Ballas. So far, officials have declined to reveal the dollar amount and terms of the proposed settlement. Tonight, the Town Council will offer what they are calling a community update on the tentative deal.

The Council scheduled a closed session at 4pm on the bankruptcy issues. The first item on the open session agenda of this regular meeting is the community update on the tentative settlement. Last week, Town Manager Dave Wilbrecht said only that as in any process there are general terms of an agreement and then details that have to be crafted. He said, “High level decisions are discussed and agreed on. Details are being worked out – terms and conditions.”

Wilbrecht did add that the Town’s hired legal teams are sorting out all of the details and the next steps. The Town’s August press release said that the agreement details will remain confidential until it is “fully documented and executed.”

The Town’s filing in U.S. Bankruptcy Court is still there, and the schedule of hearings is on hold as the two sides attempt to work out a final settlement. The Bankruptcy Judge will have to approve the deal before it is final.

Again, officials will talk about this issue at tonight’s Mammoth Town Council meeting.

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an openly corrupt system
an openly corrupt system
9 years ago

Until someone comes forward to change the present predicament (it is not illegal to accept bribes, monies, favors, kickbacks, etc.) the system we have in place will always be open to corruption. Forms of corruption vary, but include bribery, extortion, cronyism, nepotism, patronage, graft, and embezzlement. And boys and girls… Read more »

Problem Solved
Problem Solved
9 years ago

No Joke,

Does Solyndra, Fiskar etc. ring a bell?

MJA
MJA
9 years ago

Does Terry Ballas still work for the town of ML?

=

Benett Kessler
Benett Kessler
9 years ago
Reply to  MJA

He never did. Terry Ballas is the developer who entered the development agreement with the Town back in 1997 for development of condos, etc. at Mammoth Airport. He still holds at least a portion of that still active DA. I believe MLLA also holds part of it. This is part… Read more »

SierraFan
SierraFan
9 years ago
Reply to  Benett Kessler

Excellent reporting Bennet!!

MJA
MJA
9 years ago
Reply to  Benett Kessler

Thanks Benett,

But is he not the existing FBO or fixed base operator?

=

Benett Kessler
Benett Kessler
9 years ago
Reply to  MJA

If he still has an interest in Hot Creek Aviation, yes.
BK

Friar Tuck
Friar Tuck
9 years ago

Time to step up like your employees and share in the pain Mammoth Town Council!

Volunteer to give up all pay and benefits until the settlement is paid in full or resign!

taxifornia
taxifornia
9 years ago
Reply to  Friar Tuck

Better yet.. Resign …Then give back all past pay and benefits.

Govt Gone Wild

Fool me once!
Fool me once!
9 years ago

A settlement are you kidding me? Are they saying we we’re again lied too and we are not broke? I have a sneaky suspicion as an encore will soon see another Measure YOU! It’s time for a Measure US! The town council should volunteer to share in the pain! Give… Read more »

taxifornia
taxifornia
9 years ago

“When all is said and done with the settlement, then its time for our two Councilmembers who were on Council when most of the decisions were made to resign. ”

and if they do not
RECALL THEM.. What are you afraid of Mammoth Lakes?

Baby Jesus
Baby Jesus
9 years ago
Reply to  taxifornia

not sure if people in Mammoth Lakes are scared, I think they just don’t care. And if they care, they feel powerless. Same story in every city…country.
Isn’t that the whole point to politics anyway?

God Bless Limbaugh (wink)
God Bless Limbaugh (wink)
9 years ago
Reply to  taxifornia

In today’s political culture, too many people believe they are doing their “patriotic duty” by simply listening to Rush Limbaugh demonize “liberals” aka Democrats, 3 straight hours a day, 5 days a week, and reruns on weekends. In between, they “catch up on the news) by watching Fox News do… Read more »

Time to go
Time to go
9 years ago

I concur with “H” totally.
Mr. Eastman and Mr. Wood have been in the middle since day one.
This is no mystery to anyone.
Resignations are most certainly in order.

rafael
rafael
9 years ago

The deal is 20,000,000.00…..its a done deal

H
H
9 years ago

When all is said and done with the settlement, then its time for our two Councilmembers who were on Council when most of the decisions were made to resign. These two individuals can blame staff, attorneys, and anyone else they want but ultimately they voted for and directed all actions… Read more »

kaat
kaat
9 years ago
Reply to  H

yup…..those hikes….the “deals” done on those hikes….everyone knows about the hikes….time to resign “gentlemen”!