The Marshall Municipal Utilities Board of Public Works discussed the establishment of an Economic Development fund during its meeting on Thursday, July 14.

The board previously discussed the possibility of establishing the fund during a board meeting on June 30 and a special session on July 6. After much discussion and a few changes, the board decided to take formal action and approve the establishment of the fund.

The board made a motion to approve the economic development fund for $150,000 on the initial transfer with a potential cap of $500,000.

The board approved the motion. The fund is to be paid to the City of Marshall. Several board members plan to attend the meeting of the Marshall City Council on Monday, July 18 to update the council.

In other news, MMU General Manager Jeff Bergstrom said the ARPA applications have been submitted. Bergstrom said the board won’t hear anything back until October at the earliest.