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Brown Deer approves parameters to issue up to $3.9 million in notes to finance acquisition of 4000 Brown Deer Road
Summary
The board approved a resolution to authorize issuance of taxable general-obligation promissory notes not to exceed $3.9 million to fund acquisition, demolition and capitalized interest related to the 4000 Brown Deer Road property; staff described a three-year structure with a final principal due April 1, 2028, and a call option beginning April 1,
The Village of Brown Deer on Feb. 4 adopted a resolution authorizing staff to proceed with issuance parameters for taxable general-obligation promissory notes not to exceed $3.9 million to finance acquisition and related costs for the 4000 Brown Deer Road property and associated demolition/capitalized interest.
Village staff said the financing package will fund the property purchase, demolition and a capitalized-interest fund to cover interest payments until development-related revenues can be used to retire the debt.…
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