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[Cottonwood Development Corporation on July 16, 2026.]
5:48 PM ON JULY 16TH, 2026.I CALL THIS SPECIAL, UH, CALL MEETING OF THE CONWOOD DEVELOPMENT CORPORATION TO ORDER FOR STARTING MS. ROLL.
UH, ALL BOARD MEMBERS ARE PRESENT.
NOBODY SIGNED UP FOR PUBLIC COMMENT.
NEXT IS ITEM FOUR, ONE CONSIDERATION AND POSSIBLE ACTION ON APPROVAL OF THE FOLLOWING MEETING.
JOINT RIVER CREEK COTTONWOOD DEVELOPMENT CORPORATIONS.
A MOTION TO ACCEPT THE MINUTES AS PRESENTED FOR JULY 2ND, 2026.
IS THERE ANY DISCUSSION? UM, UNLESS YOU WANT TO.
UM, LET'S CALL THE VOTE FOR AYE.
DISCUSSION AND POSSIBLE ACTION RELATING TO THE COTTONWOOD DEVELOPMENT CORPORATION.
PROPOSED BUDGET FOR FISCAL YEAR 26 27.
CHRISTINA BISHOP, ASSISTANT FINANCE DIRECTOR, UM, FOR THE COTTONWOOD DEVELOPMENT CORPORATION.
UH, THE ONLY ACTIVITY YOU HAVE IN THAT FUND ARE ATTORNEY SERVICES AND FOR THE REVENUE SIDE, YOU ONLY HAVE, UH, CONTRIBUTIONS FROM THE GENERAL FUND TO OFFSET THOSE EXPENSES.
FOR FISCAL YEAR 2026, WE BUDGETED 65,000 IN ATTORNEY SERVICES AND A CORRESPONDING TRANSFER FROM THE GENERAL FUND FOR THAT AMOUNT.
WE ARE PROJECTING ONLY $109 OF ATTORNEY SERVICES THIS YEAR WITH A $109 TRANSFER OUT OF THE GENERAL FUND FOR YOUR FISCAL YEAR PROPOSED AND 20 FOR YOUR FISCAL YEAR.
WE HAVE 5,000 BUDGETED FOR ATTORNEY SERVICES AND TRANSFERS IN TO 5,000 FROM THE GENERAL FUND.
UH, SO OBVIOUSLY YOUR, UH, ATTORNEY SERVICES ARE WINDING DOWN QUITE A BIT.
UM, THAT BEING SAID, ANY QUESTIONS? SO THERE ESSENTIALLY IS NO FUND BALANCE AT ALL.
AND I GUESS IS AT SOME POINT IN TIME THIS IS GONNA GO AWAY.
IS THERE YOU, YOU GOTTA ALL DO DO WE, DO WE NEED TO DO THAT OR IS IT, CAN WE JUST, LET'S, LET'S LOOK AT IT LEGALLY AND RIGHT.
WHEN THE, WHEN THE SHUT, WHEN THE SUNDOWN SUNSET OCCURS, IT'S NOT AUTOMATICALLY SUNSETTED.
YOU HAVE TO TAKE SOME AFFIRMATIVE LEGAL ACTIONS, BUT I DON'T KNOW THAT OFF THE TOP OF MY HEAD I'LL HAVE NO, THAT'S NO RUSH.
ANY OTHER QUESTION OR DISCUSSIONS? NO.
AT THIS POINT I'LL ENTERTAIN A MOTION, UH, MOTION TO ACCEPT THE COTTONWOOD DEVELOPMENT PROPOSED COTTONWOOD DEVELOPMENT CORPORATION PROPOSED BUDGET FISCAL 26 27 AS PRESENTED.
MOTION PASSES TWO ZERO I FIVE BOOTH AND SO WE WITNESS AT 5:50 PM I'LL ADUR THIS MEETING.