Board divided over paying off low‑rate Toscana note, asks staff to verify prepayment terms
Board members questioned a staff proposal to prepay part of the Toscana seller‑carried note, citing an interest‑rate tradeoff; staff estimated $140,000 interest saving but the board directed staff to confirm prepayment rights and return with analysis.
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Members of the RCA board spent significant time weighing whether to use FY27 funds to prepay the remaining Toscana installment rather than retain the money for potential land acquisitions.
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