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City reports: Capstone Endowment close to target, rental registration at 600 and street-reconstruction bids due
Summary
City staff reported the Marshall Capstone Endowment fund remains below its $2 million target, the rental registration program has about 600 properties registered with roughly 100 remaining, and the Minnesota Hill Charles street reconstruction bid opening was scheduled for 10 a.m. the next day.
EJ reviewed the Marshall Capstone Endowment annual account and reminded the council the fund originated from proceeds of the hospital’s transfer of ownership. City staff said the endowment’s design includes a $2 million minimum target balance; market declines and committed project expenditures have temporarily reduced the fund below that…
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