Where the settlement money sits, the rules that protect it, and the balances MEDA has projected through 2030.
MEDA follows a long-term approach. The board aims to preserve the fund’s principal and spend primarily from the interest it earns. Use of the principal requires super-majority approval from both the City and County.
Each layer is one $5.5 million deposit from Tri-State into the Permanent Account, one a year from 2026 to 2029. The thin band on top is the Funding Account: the deposits' earnings, after MEDA's costs.
Every settlement dollar is deposited here and held as principal. Agreement §5.1(a)
The principal can help a project only as assistance the recipient commits to repay, approved by the Board and by a supermajority of the City and County. Agreement §8.3
Receives the Permanent Account's earnings every month and keeps its own. Agreement §5.1(b)
The Board draws on it to pay MEDA's costs and to fund economic development incentives, which first require an Economic Development Policy the Board adopts by resolution. Agreement §6.2 Agreement §6.1
Projected at the end of each year, from MEDA's 2026 budget. Amounts in dollars.
| Year | Tri-State deposit | Investment income | Expenses | Permanent Account | Funding Account | Total |
|---|---|---|---|---|---|---|
| 2026 | 5,500,000 | 220,000 | 68,000 | 5,500,000 | 162,000 | 5,662,000 |
| 2027 | 5,500,000 | 446,480 | 110,000 | 11,000,000 | 498,480 | 11,498,480 |
| 2028 | 5,500,000 | 679,939 | 165,000 | 16,500,000 | 1,013,419 | 17,513,419 |
| 2029 | 5,500,000 | 920,537 | 220,000 | 22,000,000 | 1,713,956 | 23,713,956 |
| 2030 | None | 948,558 | 220,000 | 22,000,000 | 2,442,514 | 24,442,514 |
The Investment Policy aims for no net loss in principal. It calls for an independent Investment Advisor and a diversified portfolio, with the Funding Account invested for one to three years and the Permanent Account for the long term. Agreement §5.2
Projects are evaluated through a formal review process. Each proposal must show how it supports job growth, new investment, or tax base stability. Accountability is built into every step, ensuring public funds deliver measurable return for the community.
Each year the Treasurer presents a Preliminary Budget to the Board by October 15. Once the Board approves it, the City and County approve it by supermajority, and the Board adopts the final budget after a public hearing. Agreement §7.1
Each year the Board reports to the City and County by May 31 on the money received and spent, the incentives approved, and their effect on the local economy and jobs. Agreement §7.4
