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Commission approves May minutes and claims; Mr. Lee reports $4.95 million May balance
Summary
The Carmel Redevelopment Commission approved May minutes and two sets of claims, and heard a cash-flow report from Mr. Lee showing a May ending balance of $4,949,135 and restricted funds totaling $19,874,568; commissioners were told the TIF is expected the next day.
The Chair called the meeting to order, and the commission approved the minutes from its May 20 meeting after a motion and second. Mr. Lee presented the commission’s cash-flow report, telling commissioners, “The commission's end of month balance for May was $4,949,135.”
Mr. Lee said that, including restricted funds, the total was $19,874,568 and that the commission was expected to receive its tax-increment financing (TIF) payment the following day. He said staff had just received updated numbers and that the commission would likely be “a little bit better off than what we had in the budget.”
Mr. Lee also presented two sets of claims for approval: non-operating expenses totaling $17,053,601.25 (which he said included June bond payments) and a gift-fund claim of $1,395. The Chair called for a motion; after a second, the chair noted the ayes and said the claims were approved.
The meeting moved on after the approvals; no roll-call tally was provided in the record.
