With a proposal for a new STAR bond project (featuring a man-made lagoon and beach activities) still on the table, and three new members joining the Derby City Council at the start of January, City Manager Kiel Mangus presented an overview of the funding mechanism’s history at the latest council meeting on Jan. 25. Firstly, Mangus addressed the purpose of the bonds as an economic development tool – something Derby has not traditionally handed out in excess (through property tax rebates, commercial improvement districts, etc.). He also broke down how the bonds are funded.
Source: Derby Informer | News
