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Council authorizes release of leases and close-out of IRBs for Merriam Grand Station commercial project
Summary
The council approved a resolution and release of leases to terminate the city's leasehold interest related to two series of 2023 industrial revenue bonds for the Merriam Grand Station commercial project; staff said the restaurant and retail portion is closing out ahead of schedule.
At its Sept. 22 meeting, the Merriam City Council approved a resolution authorizing the sale and conveyance of the Merriam Grand Station commercial project and a formal release of city leasehold interests tied to the city's 2023 industrial revenue bond issuance.
"So this is actually a good thing. This is we're gonna close these IRBs out at the restaurant retail actually before the last retail or restaurant is open," Mr. Engel told the council while describing the…
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