Greenwood commission affirms full AV capture for projects and approves $671,485 in claims

At its May 12 meeting the Greenwood Redevelopment Commission determined it needs to capture all available assessed value (AV) to cover ongoing project costs and debt service, directing staff to proceed with no excess AV to pass through.

A staff speaker reviewed the requirement to assess whether any AV could be released and said, according to the transcript, the district has ongoing projects and debt obligations that justify capturing all available AV. A commission member asked for confirmation; another staff member, identified as Rick on the record, responded, “Yes,” when asked whether there was any excess. The motion to make the determination was seconded (the record shows a second by Mr. Hoover and also records Mr. Cable as a seconder later in the exchange) and approved with five affirmative votes.

Later in the meeting the Commission moved to approve claims totaling $671,485; the motion was seconded and recorded as approved by the five-member commission. The transcript indicates Mr. Stone was not present on the line when the financial report was called for. No additional details about the payees included in the claims were provided in the meeting record.

The commission’s recorded actions direct staff to proceed under the determination that full AV capture is needed and to process the approved claims.