West Baltimore County Redevelopment Authority selects M&T Bank for operations, OKs March–June stipends

Carla Nelson Chambers, chair of the West Baltimore County Redevelopment Authority, said the board voted July 17 to open an operations account at M&T Bank and to enable payment of board stipends covering March through June.

The move follows presentations to the authority’s budget committee by representatives from Em and T Bank and Fulton Bank and a separate briefing from the Baltimore County Office of Budget and Finance. Kyle McNair, who reported on the budget committee’s July 1 and July 8 meetings, said the committee recommended using M&T Bank for the authority’s operational accounts because the county already works with that institution and the bank could provide a dedicated business banker and same‑day transfers.

The decision applies only to operations funds, not the $1,250,000 in capital currently held by Baltimore County in a separate account. "This is operation money only. This is not the capital money, the $1,250,000 that stays right now with the county," a committee member said during the meeting. The committee discussed treasury services, fee structures and account features before making its recommendation.

Bob Preston of the Baltimore County Office of Budget and Finance gave an update during the committee review. The presentation, the board was told, emphasized the county’s partnership with the bank and the benefits of aligning banking operations to streamline budgetary planning, fiscal oversight and compliance support for the new authority.

Board members also discussed logistics for paying stipends and vendor invoices once an account is open. "I believe the stipends will begin with March, our first meeting in March," Kyle McNair said; he added the authority could reimburse the chair for expenses already incurred for a website and name tags and then establish ACH for recurring stipend payments once members provide W‑9 forms.

On a motion from Michael Spiller that was seconded by Nico Sanders, the full board voted to open banking services with M&T Bank. The motion carried with affirmative votes from the members present.

The board noted that the authority can change banks later if needed. The authority will maintain the county‑held capital funds separately while it begins operational activities and vendor payments.

Less urgent follow‑ups flagged at the meeting included setting up direct deposit/ACH for stipends, collecting W‑9 forms from members, and coordinating with county budget staff on transfers once the account is open. The authority’s next regular meeting is scheduled for July 30; members were also asked to hold August 9 for a board retreat.