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Commission members flag $665,958.98 retroactive charge for RDA fund
Summary
Commissioners were sharply divided about applying a proposed administrative-fee method retroactively to the RDA fund, which Chair said would produce a $665,958.98 charge; the board discussed interest accrual and options to spread or delay the adjustment.
During the discussion of item 7, Chair (speaker 2) said applying the proposed administrative-fee method retroactively to the RDA account (fund 25) would produce a difference of $665,958.98. "The difference using that same methodology moving backwards would be the difference of $665,958.98," he said.
Commission members questioned whether that full amount should be charged immediately or whether the board could soften the impact by spreading costs across other funds or by relying on interest accrued in the RDA account. Chair noted the RDA account had earned interest during the period under review: "There's been $577,000.38 in interest in that time frame, in that account for whatever that observation's worth." Commissioners debated legal limits on using interest and remembered prior work charged to the RDA account.
Several members suggested delaying a final decision on a large retroactive charge until absent commissioners could participate or until auditors finish required work. One commissioner urged spreading some of the cost "over here a little bit" rather than loading it onto a single fund. The transcript records discussion and preference signals but no final vote or ordinance text addressing RDA retroactivity.
