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IDB hears finance and Class A power updates; members press staff on presentation access and procurement transparency
Summary
City finance staff reported $3.8M available to the IDB and recent repayments; wastewater staff gave a Class A power project schedule. Board members raised concerns that outside PowerPoint presentations and procurement materials aren—e posted publicly and asked staff to improve access and provide updates on a vendor contract and staffing review.
Eleanor Liu, presenting the quarterly finance reports, told the board that the Southeast Tennessee Development District returned $358,000 from a pandemic bridge loan and that the city appropriated $1.3 million to the Renewing Chattanooga Fund, leaving roughly $3.8 million available for board-directed spending. She also reported about $8,000 in TIF collections related to a Northgate Mall application and stated TIF cash on…
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