Finance Committee for 7/27/2026

The City of Troy, Ohio Finance Committee met on July 27, 2026, to discuss several procurement and financial matters requiring council recommendations and emergency legislation. Key procurement-related topics included awarding the city's public funds deposit contract for the next five years, with a recommendation to continue with US Bank as the primary depository and include four other banks as backups. The committee also reviewed and recommended approval of multiple loans from the Community Development Block Grant (CDBG) economic development revolving loan fund for local businesses, including Rudy Smokehouse, Smith Boat House, and Speak Easy Ramen LLC, with emergency legislation requested to expedite loan closings or contract amendments. Additionally, the committee discussed applying for an $8 million U.S. Economic Development Administration disaster supplemental grant to fund approximately $10.5 million in utility improvements for the Industrial Park North area to support future industrial development. All items received unanimous committee support to move forward with emergency legislation to ensure timely execution and funding.