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NextGen Advisory Board weighs Project Downtown financing and Geneva Village options as capital study proceeds
Summary
Board members discussed a recent capital finance study session and Project Downtown funding options, debated Geneva Village's role as a city asset, and agreed to prepare high-level recommendations for city council.
At its Oct. 2 meeting, the NextGen Advisory Board discussed a recent city capital finance study session and how financing choices could affect Project Downtown and assets such as Geneva Village. Board members and a public commenter debated whether the city should sell or redevelop Geneva Village and how to prioritize competing capital needs.
Pam Chappell addressed the board during public comment and urged careful study before any sale of Geneva Village. "The city doesn't need money now. The city doesn't need to sell these properties now," Chappell said, adding the city lacks a 30- to 40-year budget projection and an asset inventory she said would be necessary before disposing of public land.
Board discussion centered on the capital finance study session staff presented to city council, which explored a mix of debt instruments — short-term…
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