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DDA hears finance update; approves $37,046.47 Trackside administrative payment
Summary
Staff reported a Dec. 1 principal payment of $685,000 and ongoing admin receipts; the board approved a $37,046.47 administrative payment to Trackside Partners and discussed budget planning for December.
At the Nov. 18 meeting staff reported the DDA's upcoming obligations and cashflow considerations, including a Dec. 1 principal payment of $685,000. Jonathan said the DDA has the balance on hand to cover principal and interest and that admin payments for SLX and Olmstead are in process.
The board approved an administrative payment for Trackside Partners LLC in the amount of $37,046.47 (motion recorded and passed unanimously). A member noted the board had budgeted $32,000 for this payment, and staff said they would review cash-flow timing and prepare a draft budget for the December meeting when the DDA typically adopts next year's budget.
Chair corrected a transposed address for the Trackside payment to 5170 Peachtree Road; the motion was seconded and approved. Staff and board members agreed to loop interested members into budget conversations ahead of the December vote.
