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Finance committee backs emergency amendment allowing CIC to hold $250,000 from Experiment Farm sale
Summary
The Troy Finance Committee unanimously recommended emergency legislation to amend Resolution R72 2020 so the Community Improvement Corporation (CIC) may retain $250,000 from the sale of 1401 Experiment Farm Road; staff said the funds remain city-owned and would require counsel approval before spending.
The Troy Finance Committee on December 8 recommended emergency legislation to amend Resolution R72 2020 so the Community Improvement Corporation (CIC) can retain $250,000 from proceeds of the sale of the parcel at 1401 Experiment Farm Road.
"The first 1 is to provide a recommendation to counsel regarding an amendment to resolution number r 72 20 20 to permit the CIC to retain the amount of $250,000 from the proceeds from the sale of the parcel at 1401 Experiment Farm Road on behalf of the city," said Todd Sievert,…
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