Davis COG adds banker seat to loan fund amid conflict-of-interest safeguards

Members of the Davis County Council of Governments debated amending the loan fund bylaws to add an at-large community member with banking experience and then approved the change.

The amendment would add a 13th member to the loan fund committee intended to provide banking expertise and oversight aimed at improving the fund’s ability to transition loans to private banks. Council members cited the loan fund’s historical challenges in transitioning loans and said a banker’s perspective could be constructive.

"If she's a banker, is that a conflict of interest?" one member asked during the discussion, voicing concerns that the appointment could create an appearance of favoritism. The council considered safeguards including term limits, disclosure of conflicts, and annual reviews.

Members proposed a two-year term preference and an annual review/disclosure requirement for the new position. After debate, the COG moved to amend the bylaws to add the position, attach disclosure/conflict-of-interest language, and include term limits; the motion carried on a voice vote. The council also discussed a specific candidate, Laura Hadley of AltaBank, as a potential appointee; members agreed to the added position and to include transparency safeguards but did not record a named roll-call of the final appointment in the transcript segment.

The COG emphasized it will monitor the fund’s lending patterns and can revisit appointments if patterns present a competitive concern. The loan fund committee will incorporate the new at-large position and associated conflict-disclosure language into its bylaws and return for routine annual review.

Next steps: staff to formalize bylaw language (term length and disclosure wording), circulate it to members, and place the finalized appointment on the committee calendar for the upcoming term.