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Mount Vernon NCA adopts 2026 budget, discusses bond proceeds and administration fees
Summary
The Mount Vernon New Community Authority adopted its 2026 budget, noting initial cash from a December bond closing and recurring administration fees. Board members pressed for clearer accounting of city-advanced legal costs and agreed to add regular treasurer reports and receivable tracking for amounts owed to the city.
The Mount Vernon New Community Authority on Monday adopted its 2026 budget, approving a draft that reflects initial cash from a recent bond closing and planned annual fee income.
Michael Ringle, who presented the budget, told the board the authority received $26,700 from the Liberty Crossing bond closing and expects a $10,000 annual fee from that development going forward. He also described a $15,000 flat annual contract for an administrator to calculate and certify community development charges:…
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