Mountain Community Capital Fund (Operating Committee) – February 3, 2026

Mountain Community Capital Fund Operating Committee Meeting Recap – February 3, 2026

The Mountain Community Capital Fund (Operating Committee) convened a special session on February 3, 2026, to address key operational matters and reaffirm the fund's direction. This meeting, held at City Hall, focused on improving transparency, strengthening loan portfolio management, and ensuring the fund remains a vital resource for local businesses. The committee includes representatives from various sectors of the community, working to support economic growth within the Mountain Community.

A significant portion of the meeting centered on discussions surrounding the fund's loan portfolio performance and claim approval process. Committee members engaged in a detailed review of active loans, claims (loans in default), and those currently on hold. Recognizing the need for clearer data presentation, Kelly presented an update on a new reporting system designed to highlight portfolio strengths and weaknesses. The committee also approved a claim, but raised concerns about the escalating legal fees associated with some claims. A key takeaway was the commitment to developing clearer guidelines for claim approvals, potentially requiring borrower consultation before incurring substantial legal expenses – a move aimed at protecting both the fund and local businesses facing challenges.

Beyond portfolio management, the committee made several important decisions impacting the fund’s operations. Mason Scott was unanimously elected as the new Vice Chair, ensuring strong leadership moving forward. The committee voted to reinstate regular meetings on the first Friday of each month at City Hall, a return to a more consistent schedule that will enhance communication and accessibility. Finally, the committee is actively pursuing the selection of a new custodian for the fund, with Self-Help as their preferred choice. A Request for Proposal (RFP) will be finalized and released shortly to formalize this selection process.

While there were no direct public comments during the meeting, committee members emphasized a desire to improve communication and transparency regarding loan performance data. This reflects a commitment to keeping the community informed about how the fund is performing and supporting local businesses. A significant portion of the discussion also revolved around the impact of recent economic challenges on tourism and outdoor recreation businesses, sectors crucial to the region’s economy. The committee explored strategies for supporting these businesses while maintaining the fund's long-term financial stability, acknowledging the need to balance risk management with supporting local entrepreneurs.

What's Next? Several key action items emerged from the meeting, ensuring progress on identified priorities. Kelly will continue refining the new reporting template based on committee feedback. Staff will ensure prompt communication of claim approval minutes to Self-Help, and finalize the RFP for custodian selection. Most importantly, the committee will dedicate future discussions to developing those clearer guidelines regarding claim approval and legal fees. These efforts collectively aim to strengthen the Mountain Community Capital Fund's ability to support local businesses, promote economic resilience, and serve as a valuable resource for the entire Mountain Community.