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Commission tables financial report amid interest-allocation questions; Waverly SRF closing expected in August
Summary
Commissioners tabled the financial report after the county treasurer did not allocate interest to RDC funds for April; staff said funds must be kept separate per redevelopment statute. Separately, Waverly wastewater SRF loan closing is expected in early August and Waverly Park construction continues.
The redevelopment commission tabled its financial report at the June 17 meeting while staff and commissioners seek clarification about interest allocation from the county treasurer.
Finance staffer Linda P. presented balances across TIF funds and other accounts and reported that the county treasurer, Dan Baston, did not allocate interest to RDC funds for April. Staff cited the redevelopment statute requirement to keep redevelopment funds separate and pledged to seek clarity and possible banking/accounting adjustments. Given the unresolved interest allocation and its effect on reported balances, commissioners voted to table the financial report until the allocation issue is resolved.
Separately, staff reported the Waverly wastewater treatment project is nearing SRF loan closing in early August, with pre-closing documents due around July 7, and that much of the construction work for Waverly Park is progressing (encapsulation, HVAC, windows in process). The commission reiterated that some items — including a formal agreement to commit previously discussed road funding — will return for formal action after required documentation and reviews are completed.
Commissioners moved to table the financial report by voice vote; a specific numeric roll-call tally was not recorded in the meeting minutes.
