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West Greeley catalyst project advances design; city and developer set 30% bond‑market milestone
Summary
The council received an update on the West Greeley catalyst project and a revised schedule that targets a 30% construction‑document milestone as the trigger for bond‑market outreach and lender due diligence.
The council received an update on the West Greeley catalyst project (the proposed arena/hotel development) and a revised schedule that moves the city and project team toward a 30% construction‑document milestone as the point to access bond market financing. Presenters said that after vendor and lender due diligence they agreed that the bond issuance will be pursued once the design reaches the milestone commonly described for this project as 30% construction documents (characterized in the presentation as roughly 75% of design work). Why it matters: moving to market earlier allows the project team to lock a financing plan in time and enables the design‑build contractor…
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