The Cascade Charter Township DDA voted to approve Resolution No. 2025-1, authorizing reimbursement of DDA expenditures associated with the Burberg property purchase from future bond proceeds. Township staff said the resolution is standard for ensuring that bond proceeds can be used to reimburse prior expenditures that fall under the bond’s stated purposes, and that the DDA and the board will each pass authorizing language so proceeds can be recaptured into the DDA fund when bonding occurs.

Staff discussed timing and mechanics: under the cited resolution language, securities would be issued no later than 18 months after the later of the first expenditure date or the facility’s placed-in-service date, and reimbursement must be completed within three years in the worst-case scenario. Staff said final decisions about competitive versus negotiated bond sale, term length and other structure details will be set with bond counsel and finance staff during 2026 design and financing planning.

A board member asked whether third-party costs (bond counsel, financial advisors) would be included in bond proceeds; staff confirmed those costs would typically be rolled into the overall bond issuance. The board moved, seconded and approved the resolution by voice vote; no roll-call tally was recorded in the transcript.