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RDA approves financial report after administrator reports developer payment and projected balance
Summary
The Redevelopment Agency approved its financial report after Administrator Wendy reported a recent $100,000 developer payment, unpaid approved grants totaling about $48,000, a projected balance near $169,790 and anticipated $60,000 in January revenues.
The Redevelopment Agency voted to approve its financial statement after Administrator Wendy summarized recent receipts and projected balances.
"The total projected balance is around 169,790, with the current balance otherwise at $2.18," Administrator Wendy said during her report, adding that a $100,000 developer payment for a hotel agreement had been recorded and that about $48,000 in previously approved grants had not yet been disbursed. She also noted anticipated future revenues of $60,000 in January.
A committee member moved to approve the financials; the board proceeded with a roll call and recorded the approval. The agency chair then moved the meeting on to the next agenda item. No amendments to the financial report were made during the meeting.
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