Latest on negotiations with MLLA

mammothtownofficesAs Town of Mammoth officials continue to meet in private with Mammoth Lakes Land Acquisition over the huge airport lawsuit debt, members of the public ask anxiously when they will know more.

Financial Advisor Marianna Marysheva-Martinez told Sierra Wave that any negotiation process, whether it’s over development, unions, or, in this case, a major debt, must remain confidential.  In fact, the Town of Mammoth and MLLA signed a mutual confidentiality agreement.  From the beginning, both sides have agreed not to speak publicly about the nature of their private talks and negotiations.

So, when will officials include the Mammoth public in the debt issue?  Martinez said, “We believe by the end of December at the latest we will have a draft settlement or close to that stage.  If not,” she said, “it will not make sense to continue negotiations.”

Martinez and Town Manager Dave Wilbrecht met with Jay Becker of MLLA in Santa Monica on Monday.  The officials discussed the terms of the settlement.  Mammoth now awaits a reply from MLLA.

Martinez said that the Town Council has made it clear and its an accepted fact that there is no intention to cut the public out of this issue.  “It’s a very serious issue,” she said, “and a huge amount of money.  We need public input.”  When a draft agreement goes public, Martinez said there will still be a chance for input.

Meanwhile, interest on the original $30 million debt continues to add up at 7% annually.  Martinez said the debt now stands at somewhere around $42 million.  Mammoth expects to hear something from MLLA before November 10th when the current, 30-day standstill agreement expires.  This agreement guarantees that during each 30-day period Mammoth will not file bankruptcy and MLLA will not try to collect the debt.

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5 Responses to Latest on negotiations with MLLA

  1. upthecreek October 28, 2011 at 11:35 am #

    Sounds like the people of Mammoth Lakes may get an early Christmas present

    Get is over with MMM and file Backruptcy

    Ho Ho Ho

  2. Ken Warner October 28, 2011 at 9:24 am #

    Might as well just relax. The town government is merely an extension of the local Chamber of Commerce which reflects the needs of the cadre of real estate brokers and property sales people who suckle at the teat of MMSA who is owned by Starwood and Fortress.

    The general public has nothing to say about this issue. We are just shmoos to be looked at kindly before we are eaten.

    If you want to know what the future will bring you’ll have to ask the corner office at MMSA…..

  3. Tourbillon October 28, 2011 at 9:00 am #

    “Martinez said that the Town Council has made it clear and it’s an accepted fact that there is no intention to cut the public out of this issue.” Wrong, and spectacularly so. A confidentiality agreement is in place that guarantees the public will indeed be “cut out of the issue” until the deal is done.

    “It’s a very serious issue,” she said, “and a huge amount of money.” We do not require vapid patronization from a highly paid consultant. What we want to know is what you are promising with our money behind closed doors.

    “We need public input.” Then why have you shut us out? Or did you really intend the future tense, as in, “we will need the input of a ton of public money when this is over”?

  4. Friar Tuck October 27, 2011 at 6:32 pm #

    Here is my input, FILE BANKRUPTCY ! Quit wasting our time/money with this ruse. Our input will mean nothing after a draft agreement. Crooks negotiating with thieves will never have our interest as their paramount consideration. The only way for an honest solution is a bankruptcy judge being the shot caller. The money maggots that got us into this mess but failed to step up and admit their role or responsibility, don’t deserve to have their business interest protected. I think MLLA hears dueling banjos when they come to town and it is our cheeks collectively being spread. We’ll have to live with this for years after these politicians have taken their money and are long gone!

    • upthecreek October 28, 2011 at 11:47 am #

      @Friar Tuck..

      Since when does the Government listen to the PEOPLE.??

      We have NOT been a republic for many decades.

      Welcome to the “OUT of control world of our Government”


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