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City staff to bring Davenport contract forward after GEFA loan process stalls
Summary
City Manager Holly Bailey told the council she met with Davenport and recommended the city pursue Davenport's services for wastewater-treatment financing after the GEFA loan process did not progress as hoped; council agreed to consider a contract at the next meeting.
City Manager Holly Bailey told the Jackson City Council July 7 that the GEFA loan process for wastewater-treatment funding had not progressed as expected and that she had met with Davenport, a financial services firm, to explore alternatives. Bailey proposed using Davenport to assist with financing, and the council agreed to have staff bring a contract to the next meeting for formal consideration and a vote.
No contract was approved at the July 7 meeting; council direction was limited to advancing the item to the next agenda for formal action. Bailey did not provide detailed fee terms or a draft contract at the meeting; the council did not vote on any expenditure or commitment on July 7.
