Mono Lake-area residents and the US Forest Service say protections signed into law 20 years ago governing the lake are threatened by a new plan to subdivide 120 acres for luxury homes along the western shore.

A meeting between Monterey-based New Cities Land Company and Mono County planning officials is set for Thursday. The company is preparing a revised development proposal.

The Forest Service proposed to swap the property for federal land in the nearby resort community of Mammoth Lakes, but the deal has been derailed by a squabble over the land's value.

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