The City of Manhattan has three Economic Development Funds. The accounts are referred to as the MEDOFAB, RICOED 6500 (this is the old expired Roads and Jobs ½ cent tax) and the RICOED 6600 (the recently passed roads, debt reduction and eco devo/infrastructure tax). The account balances for the 2014 budget year are MEDOFAB $25,001, RICOED 6500 $2,510,283 and RICOED 6600 $1,868.002. The grand total of unspent funds is $4,403,285. The MEDOFAB and 6500 accounts can only be used for traditional economic development activities. The majority of the 6500 funds are committed to NBAF. The 6600 fund however can be used for infrastructure and does not have to be used to subsidize or attract new business to Manhattan. Details of the accounts is posted as a PDF file in the section below marked Economic Development Fund Documents.
Economic Development Fund Documents
The City of Manhattan Economic Development process and documents relating to the various funds are posted below.