Although the last Carroll City Council meeting was less than 10 minutes long, the group did tend to an important, piece of business. Carroll City Clerk, Laura Schaefer, says that in recent years, the council has approved inter-fund transfers from the Water Utility Fund to the Corridor of Commerce Capital Project Fund. The dollars are allocated to specific projects.
It is anticipated that an additional $1,155,500 will be needed for these projects. The repayment schedule begins on June 1, 2019 with the final payment made on June 1, 2021. The funding comes from Tax Increment Financing (TIF) collections.
The resolution for the transfer was approved on a unanimous vote of the five councilmembers present. LaVern Dirkx was absent.
