Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Interlocal Agreement topic
No spam. Unsubscribe anytime.
Committee recommends interlocal agreement so IDB offsets finance services to general fund
Summary
Staff proposed a draft interlocal agreement between the city and the Industrial Development Board so IDB funds offset finance services provided by the city; the committee recommended the agreement following IDB review.
City staff asked the Budget and Finance Committee to recommend a draft interlocal agreement with the Industrial Development Board intended to formalize finance and administrative services and offset those costs to the IDB.
Miss Holden said staff had met with the IDB and, after consulting with Betsy Knotts, determined that an interlocal agreement would be the safest approach for the services the city provides to the IDB, such as accounting for TIF agreements, pilot agreements, and minutes. She explained the operational expectation: the IDB would pay for services that staff now funds from the general fund, effectively offsetting city costs.
Committee members indicated support and said they would take the draft to the IDB for review before placing it on a voting agenda. The committee then moved to recommend the interlocal agreement to the board pending IDB review; members recorded a favorable voice vote.
