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Residents press council for RDA balance sheet and bond details
Summary
Two residents asked the council for a clearer RDA balance sheet and information about outstanding bonds and what will repay them, saying property values depend on understanding RDA encumbrances.
During public comment, resident Karen Cornelius asked how property owners can review the RDA balance sheet, including outstanding obligations, amounts paid and incoming revenue that will repay RDA bonds. Cornelius said property values hinge on knowing what is encumbered and requested publicly accessible RDA financial statements.
Council and staff acknowledged the question and discussed addressing some of the RDA topics in the RDA meeting; staff indicated they would provide more information so property owners can better understand bond obligations and encumbrances. Karen asked directly, “How do we see that? How do we know what's encumbered? How do we know how much the bonds are?”
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