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Industrial Development Board hears Volkswagen grant and program finance update
Summary
City finance staff reported on Volkswagen (VW) grant spending, NR14 cash balances, and other economic development program funds; no board action was required.
City of Chattanooga Industrial Development Board members received a finance update on April 7 covering Volkswagen grant spend, the board’s NR14 account balance and related economic development program funds.
The presentation, given by Alan Wonyou of the City of Chattanooga finance department, said the board previously approved purchase of a compressor costing about $239,000 and that staff allocated roughly $5,053,000 from the remaining funds in the first…
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