Mammoth Lakes on brink of financial ruin
By Louis Sahagun, Los Angeles Times
MAMMOTH LAKES — An appellate court decision upholding a $30-million judgment against this High Sierra ski resort has left civic leaders scrambling to avoid financial catastrophe.
Residents reacted bitterly to the breach-of-contract judgment, blaming the town of Mammoth Lake’s five-member council and its staffers for the fiscal dilemma that has overshadowed the snowiest winter in memory in the scenic Mono County community of 7,500 year-round residents, situated about 300 miles north of Los Angeles on Highway 395.
Facing a judgment roughly twice the size of the town’s annual operating budget, the Town Council last week retained a law firm that specializes in appellate litigation and also is developing settlement negotiation options, seeking legal advice on municipal bankruptcy and studying controversial proposals to raise taxes and make cuts in basic services to pay off the judgment, which bears a 7 percent annual interest rate.
GREED ALWAYS GETS THE BEST OF A GOOD TOWN.
One the best mountain to ski in the states…….leave it alone, what time too to find,enjoy it’s natural setting, forget all the tourism get rich schemes, let it grow on it’s own.
Lawyers ,Redevelopment, are poison to the peoples health,community welfare,happiness.
Mammoth Lakes tried to have their whole town in their redevelopment boundries, but lost in court. Looks like So. Lake Tahoe is or will be in same position and have to file for bankruptcy because of redevelopment. Only smoke and mirrors will work at this point, maybe.
I hope future issues in our town are dealt with better than in the past. SLT can’t afford another hole in the ground or Lakeview Commons issue. Our town is already divided. Advice to Council and the City Attorney: Take your time and do it right the first time.
It would take the flip of a coin to determine which had the worst business acumen and common sense of a town or city council…Mammoth or South Lake Tahoe. On the plus side, they are probably interchangeable. And with very limited, seasonal commercial air service, the Mammoth airport probably loses a little less money.
Lou! Smoke and mirrors worked before,no doubt they will work again, ad nauseum.
A scenic mtn./ski town where the politicians screw up, but the taxpayer is stuck with the tab! Again was that story on Tahoe or Mammoth?
Tahoe will never get that far down in the red but its outlook is very bleak, Casino win keeps dropping, town is worse looking every day, no sidewalks, schools getting less kids, even the churches are seeing less parishoners. Heavenly scaled back its on -mountain lodges and casinos are getting older and older and older. City Tax revenues keep slipping with less in-town shopping, less rate and occupancy. We need a hero and that hero better have $$ signs on their chest.