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Town mulls over money distribution

At a time when money is getting tighter by the day, Pulaski Town Council had the unusual task Tuesday of deciding how it wishes to allocate its portion of $600,000 in surplus funds
Ever since Virginia’s First Regional Industrial Facility Authority was developed in the late 1990s, the member jurisdictions have been contributing annual dues that now stand at $600,000.
Virginia First is the authority formed to create the industrial park near the New River Valley Airport.
Pulaski Town councilman, Morgan Welker, the town’s representative on Virginia’s First, said the accrued funds equate to $40,000 per member jurisdiction. Each jurisdiction is now being asked to indicated how it would like its portion of the funds to be used.
Among the options are to request a return of the investment, allow it to be used to pay the town’s future dues, invest it in the nanotechnology program known as “Project Neemo,” invest the funds in the water and sewer upgrade project at the stie.
Welker suggested half of the month go toward Project NEEMO and the other half toward the water and sewer project.
Town Manager John Hawley and Mayor Jeff Worrell agreed with Welker’s suggested use of the money.
For those who might think the money would be better used on town projects, Hawley pointed out it cannot be put into another fund such as the town’s street fund.

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Town mulls over money distribution

At a time when money is getting tighter by the day, Pulaski Town Council had the unusual task Tuesday of deciding how it wishes to allocate its portion of $600,000 in surplus funds
Ever since Virginia’s First Regional Industrial Facility Authority was developed in the late 1990s, the member jurisdictions have been contributing annual dues that now stand at $600,000.
Virginia First is the authority formed to create the industrial park near the New River Valley Airport.
Pulaski Town councilman, Morgan Welker, the town’s representative on Virginia’s First, said the accrued funds equate to $40,000 per member jurisdiction. Each jurisdiction is now being asked to indicated how it would like its portion of the funds to be used.
Among the options are to request a return of the investment, allow it to be used to pay the town’s future dues, invest it in the nanotechnology program known as “Project Neemo,” invest the funds in the water and sewer upgrade project at the stie.
Welker suggested half of the month go toward Project NEEMO and the other half toward the water and sewer project.
Town Manager John Hawley and Mayor Jeff Worrell agreed with Welker’s suggested use of the money.
For those who might think the money would be better used on town projects, Hawley pointed out it cannot be put into another fund such as the town’s street fund.

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