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Luna Pier DDA moves $50,000 to interest, forms TIFF ordinance subcommittee and backs Night Market
Summary
At the March 27 meeting the council heard a DDA report that the authority moved $50,000 into interest-bearing accounts, formed a By-Law and TIFF Ordinance Update subcommittee led by Connie Cole, Joe Bozinski and Dave West, and pledged support for an upcoming Night Market.
Luna Pier — Council heard a report from the Downtown Development Authority (DDA) that the authority moved $50,000 into interest-bearing accounts, created a By-Law and TIFF Ordinance Update subcommittee, and voted to support an upcoming Night Market.
Councilmember Duy Hoang reported that the DDA approved its January minutes and moved funds into interest-bearing accounts to improve liquidity or earn interest on reserves. Hoang said the DDA formed a by-law and TIFF (Tax Increment Finance File/Ordinance) subcommittee led by Connie Cole, Joe Bozinski and Dave West and moved to support the city's planned Night Market event.
Why it matters: Moving reserves into interest-bearing accounts changes how DDA funds are managed and the formation of a TIFF ordinance subcommittee indicates the DDA is preparing to review or recommend changes to tax-increment financing rules or related governance documents. Council did not record specific dollar-line details beyond the $50,000 transfer in the public transcript.
