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Council directs $96,631 in earned interest to finish Berson’s Nature Park
Summary
The council authorized directing $96,631.14 in earned interest from the tax‑rate stabilization trust fund toward final development costs, grant matches, signage and amenities for Berson’s Nature Park to help close a remaining funding gap.
The Ocean View Town Council authorized the town manager to direct $96,631.14 in additional earned interest from the tax‑rate stabilization trust fund toward final development of Berson’s Nature Park.
Staff explained the tax‑rate stabilization fund had seed funding of $1.4 million from the sale of the water utility and that earned interest had accumulated beyond the ordinance minimum. The manager recommended using the additional earned interest to cover remaining grant matches, amenities, signage and beautification as the park approaches construction.
Staff noted the town has already secured more than $1 million for design and development and used $500,000 of grant funding for the land acquisition; the town had spent $5,000 to date on the property deposit. The manager described an estimated remaining local funding need of roughly $235,000 for final amenities and an engineer estimate of $468,008.32 for amenities prior to bids.
A council member moved to authorize directing the earned interest to the park’s final development; the motion was seconded and approved by voice vote.
Council directed staff to report back as needed if plans or funding change.
