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EDA to move $300,000 into county capital fund; Falling Branch Phase 2 grading underway
Summary
EDA staff reported renewing CDs (rates down to 3.69%), $82,611 interest received for the year, and a plan to move $300,000 (town funds) into the county capital fund; Falling Branch Phase 2 grading is in progress and a $95,895 payment on Nov. 15 covered grading work.
EDA staff briefed the Montgomery County Economic Development Authority on cash positions and an active construction contract. Staff said the authority held two certificates of deposit funded in part from the FedEx building sale and that one of the CDs was $850,000; staff proposed removing $300,000 (identified as funds from the town of Christiansburg) and…
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