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Council approves $1 million transfer to long-term development fund after transparency discussion
Summary
The Maple Grove City Council adopted Resolution No. 25-143 to transfer about $1 million in utility interest to the long-term development fund, a long-standing practice Councilmember Mike Ostaffe said helps keep property taxes lower but reduces utility fund balances and will require future discussion as infrastructure needs grow.
The Maple Grove City Council on Oct. 20 adopted Resolution No. 25-143 to transfer approximately $1 million in interest earnings from utility funds into the city’s long-term development fund.
Councilmember Mike Ostaffe, who removed the item from the consent agenda for discussion, said the transfers have been a decades-long practice and that moving the interest this year will…
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