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Questions fly after IDB says it has $3.1M
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An extremely healthy bottom line has raised more questions about what the Industrial Development Board is doing to bring jobs to the community.According to a financial breakdown presented to Warren County commissioners by IDB treasurer Mark Brown, IDB has over $3.1 million in checking and savings.Some of that money has already been designated to be spent, such as $877,000 for Spec Building 3. IDB says of the $3.1 million, it has $1.1 million in non-committed funds.IDB also has more than $3.7 million it is expecting to receive from property rental, and more than $1.8 million in available credit, which is money IDB can access if necessary.Of the $3.1 million, there is $560,280 in city-restricted funds. That money is being held by IDB for use in the city.