Community Investment Trust - Board of Trustees – October 20, 2026 (audio only)

The Murfreesboro Community Investment Trust Board of Trustees met on October 20, 2026. The board approved the minutes and an independent grant-management services contract retaining former city employee Karen Lambert, with amendments clarifying the payment deadline for undisputed invoices and making attorney’s fees reciprocal for whichever party prevails in a dispute. The contract’s dollar value was not stated. The board also approved up to $1,500 in expenditures, if needed, to resolve matters involving the IRS.

An investment adviser reported that TPG had been selected as a second private-credit manager, with a $2 million allocation funded from public bonds and a likely capital call in the second quarter of 2027; this was presented as an update, not a vote. The adviser also discussed portfolio performance and plans to seek the return of funds from an underperforming private-equity investment. Trustees discussed making the annual nonprofit grant application process and deadlines clearer; no grant awards were made. The board planned to coordinate the trust’s FY2026 annual report presentation to City Council and tentatively target its next meeting for late February or early March 2027.