The DeSoto Board of County Commissioners unanimously approved an ordinance creating a redevelopment trust fund. The board had already set aside $150,000 annually for the fund when it approved its 2013-14 budget, but the ordinance was necessary to allocate the funds. Any unspent funds roll over to the next fiscal year budget and would accrue interest.
County Coordinator Mandy Hines said the Economic Development Advisory Committee would recommend projects for consideration, but the board would have final authority. She also noted the ordinance would require a supermajority vote for the funds to be used on anything not related to economic development, or to abolish the trust fund.
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