Local News

Tusayan Invests Surplus Millions

January 18, 2015

Tusayan is taking in boatloads of cash. So much so that it needs a safe place to park all those dollars.

A company called TVI (Time Valued Investments) is offering to put Tusayan’s excess cash into certificates of deposit. Currently the town has $7.5 million in savings. The town will be setting aside $2.5 million in CD’s. The certificates will mature at different rates. A $1 million CD will mature over several years. Meanwhile a $1.5 million dollar CD will mature in six months.

Right now the cash in the town coffers is making nothing or next to nothing in interest. The investment plan would give Tusayan a modest amount of interest, about $300,000 over four years