Times Staff Report
PORTAGE | The City Council this week established a rainy day fund to accept a surprise $1 million windfall in excess County Economic Development Income Tax.
The city will receive $1.18 million in CEDIT funds collected over the last two years.
City officials don't know yet what they're going to do with the windfall.
City Council President Ed Gottschling said putting the money in the rainy day fund does not restrict its use.
"We have no idea for spending the funds right now. We just got it the other day. It was a surprise for us," Gottschling said.
It was the first time in the city's history that such a fund has been established to hold unappropriated money.
