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Land Bank approves minutes and financials after June property sales and judicial sale costs
Summary
The Westmoreland County Land Bank unanimously approved April and May minutes and last month's financial report after Executive Director Brian Lawrence reported a General Account increase from the sale of Parcel C at Derry Business Park and Land Held for Resale growth following a Judicial Sale in early June.
The Westmoreland County Land Bank board unanimously approved the April and May meeting minutes and the previous month's financial report at its June 23 meeting. Donna Holdorf-Roadman moved to approve the minutes of both meetings, and Rebecca Parry seconded; the motion carried unanimously. Later, Rebecca Parry moved to approve the prior month's financials and Matt Helinski seconded; that motion also passed unanimously.
Executive Director Brian Lawrence reported that the General Account increased after the sale of Parcel C at the Derry Business Park and that the Land Held for Resale account rose following a Judicial Sale held in early June. He said accounts payable were higher this month primarily because of costs associated with the Judicial Sale, and that the Escrow Proceeds account increased after an extension payment tied to the Derry Business Park sale. The board did not amend the financial statements and approved them as presented. The meeting adjourned at 9:19 AM.
