PLYMOUTH — The city of Plymouth moved to put the final touches on the books for 2010 giving Plymouth Clerk-Treasurer Toni Hutchings the permission to make transfers necessary to finalize budget items for the year.
The Council also passed a more formal resolution Monday allowing the city to transfer funds temporarily from the City Development Fund to the EDA (United States Economic Development Administration) Tech-Farm Fund for cash flow purposes.
The TechFarm project was the recipient of a grant from EDA for $1.1 million to use for infrastructure for the development. That money has yet to be delivered to the city even though the project is almost complete.
Hutchings told the Council that the loan was temporary and that grant administrators working on payment for the city had hoped that payment would be received from the federal government by the end of 2010.
Hutchings also told the Council that the situation was similar to payment of a FEMA loan to the city for flood plain real estate purchases earlier in the year. Several attempts at filing appropriate paperwork by grant administrators had been returned as needing more work. She said she was confident the money would be repaid to the city before the June 30 deadline in the resolution.
City Attorney Nelson Chipman told the Council that the June 30 deadline had been placed in the resolution to meet statutory requirements of a six-month deadline for repayment.