Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Funding Reallocation topic
No spam. Unsubscribe anytime.
Land Bank frees $131,000 after withdrawal from 7780 Lake Street; State authority approves reallocation
Summary
The Manistee County Land Bank Authority withdrew from a planned project at 7780 Lake Street, freeing about $131,000 for reallocation; the State Land Bank Authority has approved moving those funds, and the county authority will pay a $19,000 invoice while seeking reimbursement from the Village of Bear Lake.
The Manistee County Land Bank Authority voted to withdraw from the 7780 Lake Street project, freeing roughly $131,000 for other uses. Chair Rachel Nelson told members the State Land Bank Authority has approved reallocation of the funds and that the Land Bank received a $19,000 invoice for engineering and planning tied to the 7780 Lake Street work.
Nelson said the invoice will be paid by the Land Bank and documentation will be provided to the Village of Bear Lake for possible reimbursement consideration. The board also discussed formalizing agreements for third-party contributions on future projects to avoid similar financial exposure, and members agreed that policy work on that matter is warranted.
