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Commission approves statement allowing Colorado Health Facilities Authority bond issuance tied to Covenant Living projects
Summary
The commission approved a resolution allowing the Colorado Health Facilities Authority to issue tax‑exempt bonds (up to $180 million aggregate) as a local jurisdiction approval required for certain 501(c)(3) financings; the city is not financially liable for the bonds.
The City Commission approved a resolution accommodating a proposed bond issuance by the Colorado Health Facilities Authority that would allow authority‑issued bonds to be loaned to Covenant Living Communities and Services for projects in multiple states, including a project at 2510 Lake Michigan Drive NW in Grand Rapids.
City staff described the action as a…
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