Consultant outlines $9.4–$10.1 million bond plan for Ingalls downtown projects
A municipal finance consultant told the Ingalls Town Council the proposed lease-rental bonds would total roughly $9.4–$10.1 million, carry an estimated 4.5% interest rate over as long as 20 years, and likely have minimal net impact on most homeowners because of state SB1 tax credits.
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Nathan Fox-Krohn of Fox-Krohn & Associates presented the council with the financing framework for a downtown municipal facilities project that would cover a Town Hall renovation, a police station and related infrastructure. He said the "project size ranging from approximately $9.4 million to $10.1 million," with an estimated interest rate of about 4.5% and a potential bond term of up to 20 years.
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