Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Maywood board adopts FY2020–21 budget and approves developer extension
Summary
Trustees unanimously adopted the Village of Maywood fiscal 2020–21 budget and passed an amendment to the current-year budget; the board also granted Maywood Equity Group an extension of contingency and closing dates under a redevelopment agreement.
The Village of Maywood Board of Trustees voted unanimously on April 21, 2020, to adopt the FY2020–21 budget (May 1, 2020–April 30, 2021) and to approve Amendment No. 1 to the FY2019–20 budget.
Trustees discussed budget details before the vote; the ordinances were approved on motions recorded in the minutes. The board also granted Maywood Equity Group, LLC an extension of the contingency period to Sept. 1, 2020 and moved the closing date to Oct. 1, 2020 under the redevelopment agreement for the commercial property at the northwest corner of 1st Avenue and Lake Street.
The fiscal actions were taken as part of a larger meeting that included multiple procurement approvals and community initiatives. Board members said they will continue monitoring revenue and spending during the new fiscal year and coordinate any necessary adjustments with staff.
The budget ordinance, amendment and the developer-extension motion all passed on recorded motions during the meeting.
