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LDFA approves consent agenda; cash holdings described as close to $2 million
Summary
The Village Middle Grove LDFA approved its consent agenda including $81,102 in expenses and reviewed Michigan Class holdings described as 'close to $2 million' and investment rates around 3–3.75%; no public comments were received and the meeting adjourned.
The Village Middle Grove Local Development Finance Authority approved its printed agenda and a consent agenda that included minutes from Jan. 15 and expenses of $81,102 for Jan. 9–Mar. 31, 2026, the board recorded during its regular meeting. The consent agenda also included the revenue and expenditure report through Mar. 31, 2026.
Why it matters: The consent vote clears prior administrative business and authorizes routine expenditures. During roll call some members were recorded as voting 'yes'; the consent package passed and the board proceeded to staff updates.
In the manager report, staff noted several current openings on local boards and commissions (two openings on the DDA, one on the planning commission, and one on the housing commission) and congratulated the clerk for receiving a certificate from the Michigan Association of Municipal Clerks.
The board then reviewed the Michigan Class cash report as of Mar. 31. The manager described the authority’s Michigan Class balance as "close to $2 million" and said investment returns were roughly in the 3–3.75% range; the manager added there was a small draw of about $11,500 used for capital improvements on Hermansville. The manager characterized Michigan Class as a trusted, easy-to-work-with fund: "It's a good safe place," a participant said during the discussion.
There were no public comments. With no further business, a member moved and seconded to adjourn; the board voted 'aye' and the meeting was adjourned.
