Redevelopment Authority ratifies delegation of financial authority and moves to simplify bank accounts

The York City Redevelopment Authority on Monday formalized a board delegation that gives a staff member authority to handle executive and financial transactions for the agency and approved closing a Presence Bank money market account and transferring its funds to the general fund.

Board members said the vote was meant to formalize an action that had already been taken informally. The chair noted the formal memo will allow banks and other government authorities to verify that authority was delegated by the board. A motion to adopt the delegation memo was moved, seconded and approved by voice consent.

Members also discussed a longer-term effort to consolidate the authority’s existing banking arrangements: the board currently uses accounts spread across five banks and eight accounts and is exploring reducing those to two banks (one dedicated to RATP-designated accounts and one for general operations). The board agreed to continue analysis and to bring any final bank selection back to the project committee for more detailed review before a vote.

In a separate motion, the board voted to close the Presence Bank money market account and move the funds into the general fund to make those dollars available for near-term needs. The motion was moved, seconded and adopted by voice consent.

The measures are administrative and do not change programmatic funding allocations. The board did not record a roll-call tally during the voice votes; all motions in this set were announced as adopted by the chair.