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Council transfers JCDC funds to city general fund pending MDD setup, votes 4–1
Summary
Council approved the FY24–25 Josephine Community Development Corporation budget and a resolution transferring remaining JCDC funds to the city’s general fund, with members arguing for moving the balance to the newly created MDD account only after staff and board structures are in place.
The City Council reviewed the FY2024–25 annual budget for the former Josephine Community Development Corporation (JCDC) and considered a resolution to transfer remaining JCDC funds to the city as the MDD (Municipal Development District) is stood up.
Council discussion focused on whether funds already deposited in an MDD bank account should remain there or be transferred to the general fund until MDD staffing and governance are established. One council member argued the funds should be moved to the MDD account because it is already open and the corporation’s purpose aligns with the MDD’s mission; other members expressed concern that moving funds to an unstaffed MDD account could delay pending projects and make it harder to spend funds for near-term activities such as the food-truck park.
City finance staff said funds currently in the MDD account are being held and not spent, while others proposed transferring remaining JCDC funds to the general fund for administrative ease and to close the JCDC account ahead of fiscal-year close. Council voted to transfer remaining funds (less bank fees) to the general fund and close the JCDC bank account; the motion carried 4–1.
Council asked staff to create a line-item tracking the transfer and to provide a timeline for standing up the MDD so the monies can later be moved if appropriate.
