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Treasurer: $1.26 million landed in Valley Business Park account; board weighing options
Summary
Treasurer Deb Campbell reported $1,256,026.55 was deposited into a Landman’s Bank account in February 2022; in May 2022 the board recorded withdrawals of $300,000 from a TIF bond and $850,000 from the Landman’s account. County staff will consider placing remaining funds in a CD if no projects arise.
Treasurer Deb Campbell reported the status of funds related to the Valley Business Park. Campbell said $1,256,026.55 was deposited into a Landman’s Bank account in February 2022. She reported that in May 2022 officials withdrew $300,000 from the TIF bond and $850,000 from the Landman’s account.
Campbell said the remaining balance could be placed in a certificate of deposit (CD) if there are no near-term projects, which would potentially earn more interest for future development. Supervisors discussed options and agreed to return to the topic at next week's meeting for further consideration.
The March 3 minutes do not specify any vote or commitment to a final investment decision; the item was recorded as a treasurer's update with planned follow-up discussion.
