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Otsego EDA adopts 2025 budget request, including commissioner pay and bond-related items
Summary
The Economic Development Authority adopted a 2025 budget request that includes $25 per‑meeting compensation for commissioners (estimated $500 annually), an estimated fiscal agent fee of $2,500, and recognized debt-service items tied to the Series 2024A lease revenue bonds.
The City of Otsego Economic Development Authority adopted Resolution 2024-06 on Dec. 9 requesting a 2025 budget that incorporates two primary items: commissioner compensation and recognized debt-service expenditures related to the Series 2024A lease revenue bonds.
Staff said the packet included an RCA and an updated resolution reflecting the bond sale earlier that day.…
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