KALAMAZOO, MI (WKZO AM/FM) – Kalamazoo City Commissioners have put a hold on reappointing a member of what they are calling the city’s very successful Investment Committee, because he no longer lives in town.
That member is Robert Salisbury who used to live in Kalamazoo year round, but has retired and now only keeps a summer home there. He’s been on the investment panel for 18 years.
During that time, the committee, which oversees investments for the City’s Retirement System has made it one of the best funded in the state said City Chief Financial Officer Steve Vincenzi.
Commissioners Don Cooney and Stephanie Hoffman say they have concerns too but it’s tough to argue with success.
But Commissioner Quianna Decker says there are residency rules for advisory boards.
Both Decker and Hoffman say they would like to see more blacks on all city advisory Panels. City Attorney Aaron Leal says the Investment Committee may have a rule permitting non-residency, but it needs to be checked first.
Commissioners made two other reappointments to the Investment Committee Monday night, July 17, but will wait on Salisbury’s nomination until they hear from the City Attorney.
reporting from John McNeill
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