Dear Mayor,
I would like to ask the Mayor’s office look into a strange EDGE transaction. Its an $834k grant from the EDGE Depot to the Greater Memphis Alliance for Competitive Workforce (GMACW). The transaction occurred without Depot Board vote on the grant or GMACW Board grant acceptance in August 2018.
The Depot Board or GMACW Board has not met since the August 2018 transaction. It seems an $834K grant would require at least a Depot Board vote. And it would further seem that Depot proceeds from property sales should come back to local government for re-appropriation. Please see below documentation. Please advise if you need anything else from me to clarify approval process for this transaction.