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Redevelopment commission reviews Sept. 30 financials; allocation balances reported
Summary
Staff reported $2,725,485.21 available for new projects in allocation area 1, $1,000,001.43 available in the Johns Manville allocation area, and a Heartland Fund balance of approximately $44,001.57; closed projects were removed from listings.
Finance staff presented the commission’s month‑ending Sept. 30 financials and noted several allocation balances and upcoming transfers.
Staff reported $2,725,485.21 available for new projects in allocation area 1 after closing completed projects from the project listing. For the Johns Manville allocation area staff said the current available balance is $1,000,001.43 (transcript contains additional cent fragments). The Heartland Fund balance was reported as roughly $44,001.57. Staff also said the next transfer to the Midwest Industrial Park bond fund will occur Dec. 31 to cover the bond payment.
Commissioners had no substantive objections and approved the financials by motion and voice vote. Staff noted adjustments were made as requested so closed projects were removed from the project list and that the certified tech park funds remain pending a final determination on how those funds can be used.
