The Local Development

LDFA approves amended FY2027 budget; renews non‑profit D&O policy; receives Q2 SPARK and financial reports

The Local Development Finance Authority met on March 26, 2026. The board approved the agenda and October 23, 2025 minutes (forwarded to City Council), received and filed the LDFA FY26 2nd Quarter Treasurer and administrative reports and the SPARK Q2 report, approved the FY2027 budget as amended (adding $30,000 to the professional services line-item, bringing the total budget to $6,744,394 with a $0 projected fund balance), approved renewal of the LDFA Non‑Profit D&O policy, and noted a Ypsilanti board vacancy application pending Ypsilanti Council action.