Summary
The local development corporation is moving its roughly $500,000 bank balance from Chase to Hanover Bank to earn a better interest rate.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed May 5, 2026.
Impact analysis
Generates higher interest earnings on approximately $500,000 in LDC funds.
Town residents and the LDC through increased interest revenue on public funds.
Mentions & discussions (2)
LDC Meeting - May 5, 2026
The local development corporation is moving its roughly $500,000 bank balance from Chase to Hanover Bank to earn a better interest rate.
LDC Meeting - May 13, 2025
The LDC is holding about $500,000 in bond fee revenue and wants to figure out legal, impactful ways to spend it on local development without drawing heat from state auditors who penalize agencies for hoarding cash.
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