CDA authorizes up to $1 million six‑month CD at 4% APY
The Community Development Authority voted to let staff invest up to $1 million in a six‑month certificate of deposit at no less than 4% APY, timing the maturity to align with a February project closing and leaving a portion of funds liquid.
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The Community Development Authority on Aug. 13 authorized its executive director to invest up to $1 million in a six‑month certificate of deposit yielding no less than 4% annual percentage yield. The board approved the measure by voice vote after staff presented the bank offer and timing rationale.
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