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Council reviews DGDC MOU; asks for shorter term, annual financial reports and documentation of in‑kind city support
Summary
Council members asked the Downtown Goldsboro Development Corporation (DGDC) and staff to revise a proposed five‑year MOU to a shorter review period, add annual financial reporting or audit access and quantify in‑kind city contributions; staff will return a revised draft at the next meeting.
Goldsboro City Council took up a proposed memorandum of understanding with the Downtown Goldsboro Development Corporation (DGDC) on Aug. 4, asking the nonprofit and city staff to revise the document to increase oversight and clarity before final approval.
The DGDC representative described the MOU as formalizing a long-standing partnership and highlighted program results: “we have spurred a significant amount of economic development, resulting in more than $89,000,000 in public and private investment, 213 building renovations, 603 net new jobs, and 797 net new businesses” in recent years.
Multiple council members raised governance and transparency concerns. One councilor urged shortening the MOU term from five years to a 12–18 month review window and recommended an annual financial report from the nonprofit so the council could assess sustainability. Another asked that the city quantify in-kind services (staff time, lawn care, setup assistance) and suggested those in-kind contributions be recorded and, if appropriate, billed internally to make the city's actual investment visible.
The DGDC representative said financial statements (including IRS Form 990) and impact reports are available and that much oversight already occurs through board representation and state/national Main Street assessments. The representative agreed to consult the board and the nonprofit’s treasurer about how to present quantification of in-kind contributions without imposing undue administrative burden on the nonprofit.
Council directed staff and DGDC to seek the requested revisions and return a revised draft for consideration at the council’s second August meeting.
Next steps: manager Livingston will work with DGDC to produce a revised MOU that addresses term length, financial-reporting expectations and documentation of in-kind city support for council review.
