Greeley City Council is set to finalize up to $95 million in financing on Tuesday to begin work on the Downtown Civic Campus project. According to the Greeley Tribune, the city plans to acquire the funding by issuing certificates of participation, effectively “mortgaging” the new city hall the project will construct. Although not technically considered debt under the Taxpayer’s Bill of Rights, this would lock the city into making annual payments of up to $8.4 million until the lease is paid off. Council will hear the second reading and hold public comment to issue up to $95 million in certificates of participation to begin construction of the Downtown Civic Campus project.
Greeley prepares to issue $95M in financing for Downtown Civic Campus
