Redevelopment Commission readies spending as funds accumulate
Summary
Staff said the Redevelopment Commission's revenue has grown and the commission is beginning to consider viable projects as its budget has reached roughly $200,000 with prior-year revenues over $250,000.
Town staff told the council the town's Redevelopment Commission (RDC) has accrued funds and is preparing to start spending on projects. "For the first couple years that I redevelopment, we just sort of waited and collected and now they're getting ready to start some action," the presenter said, noting budgeted RDC spending around $200,000 and prior revenue exceeding $250,000.
Councilors were told the RDC will continue to identify viable projects as funds allow and will bring spending plans forward for approval when appropriate.
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