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Fight Heats Up Over County Money for Wilmington Stock Exchange

nccde.org

New County Council Executive Tom Gordon has restored funding for a start-up stock exchange in Wilmington.

The Wilmington News Journal reports that the county leader is using tax reserves for the project.

But County Council member Penrose Hollins called the move “money laundering” and it is expected to set off another fight over how the county invests its funds.

The council has already authorized $10-thousand to explore the legality of Gordon’s action.

The paper adds the council could ask a judge to block Gordon from putting up the money for the stock exchange.

Gordon has said the council is “playing politics” adding that his focus is on creating jobs in the region.

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.