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Westmoreland County Land Bank approves deed of dedication for Derry roadway
Summary
The Westmoreland County Land Bank board unanimously approved a deed of dedication for a roadway in Derry Borough covering parcels 06-01-10-0-166 and 06-01-10-0-172, and discussed a 90-day extension of the Derry Business Park sales agreement during its May 19 meeting.
The Westmoreland County Land Bank board unanimously approved a deed of dedication for a roadway in Derry Borough at its May 19 meeting.
The motion to approve the deed for parcels 06-01-10-0-166 and 06-01-10-0-172 was moved by Donna Holdorf-Roadman and seconded by Rebecca Parry; the board carried the motion unanimously. Board members present were Brian Merdian, Donna Holdorf-Roadman, Rebecca Parry, Matt Helinski and Matt Williams. The meeting began at 9:00 a.m. and adjourned at 9:34 a.m.
Executive Director Brian Lawrence explained the deed of dedication related to the Derry Business Park roadway and said he met with the buyer of the Derry Business Park to extend the sales agreement by 90 days. The board discussed funds, the project timeline, emergency access considerations and engineer-led due diligence tasks that must be completed before closing.
Finance Manager Jamie Scherich told the board the organization’s cash position is in good standing and that profit and loss are ahead of last year, while noting a large loss attributed to administrative fees. Scherich said the Land Bank renewed certificates of deposit at a 3.6% rate.
Mr. McLaren provided an update on his military status and intended leave; the board thanked him for his service. The agenda listed an executive session on real estate but the board concluded none was required. The April meeting minutes were not voted on and will be considered at the June meeting.
A motion to approve the previous month’s financial report was made by Holdorf-Roadman, seconded by Parry and carried unanimously. A motion to adjourn, made by Holdorf-Roadman and seconded by Parry, carried unanimously.
