The Marshall Municipal Utilities Board of Public Works renewed its economic development agreement with the Marshall-Saline Development Corporation during its meeting on Wednesday, October 30.

MMU pays MSDC $30,000 annually in exchange for MSDC’s economic development efforts each year. The agreement expires September 30 each year, and automatically renews unless terminated with 30 days notice.

The board decided to let the agreement renew automatically and continue funding the agreement through September 30, 2025.

In other news, the board approved the MMU Cash Reserve Policy for the 2024-2025 budget year. The board set the minimum at $21,528,392; and the maximum at $30,000,000. These reserve balances are updated annually during the budgeting process.