New budget agreement in place at Tamarack

The receiver appointed to run Tamarack Resort near McCall through its foreclosure and the lending group that is still funding the resort have reached a last-minute agreement on the May budget.
Attorneys for Credit Suisse and receiver Douglas Wilson told a 4th District Judge this week that they’d reached the agreement. Earlier in April, the two parties were hundreds of thousands of dollars apart in their budget requests – Wilson said the resort’s coffers were empty and asked the lenders to approve $1.7 million, but the lenders only wanted to budget $956,000 for the month, including nearly $500,000 they said should have been left over from April. But Wilson said that would only cover expenses through May 14.
The sides agreed on the $956,000 amount after Wilson found he could keep some substantial building insurance costs from increasing in May and after he agreed to reduce some of his fees. (AP)