Council approves Bonds for Grey Eagle Golf Course and associated multifamily project
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Summary
The council approved two bond ordinances tied to the Grey Eagle project — one for the golf course and one for age-targeted multifamily housing — with a minor amendment allowing interest proceeds to be split between the golf course and the multifamily developer.
City Controller Lisa Bradford explained that the Grey Eagle economic development project agreement includes two bond ordinances: one financing the golf-course portion and another for age-targeted multifamily housing. She said the only substantive change from materials council members previously saw was language allowing interest earned on bond proceeds to be split between the golf course and the multifamily developer as needed; the project team agreed to that wording.
Council considered each ordinance in succession. Members moved and recorded roll-call votes on items tied to the Grey Eagle project (items 7, 8 and 9), and the motions passed on the record.
During community comment, a resident questioned the size and public benefit of supporting the Grey Eagle project. Matthew Brands said the $5,300,000 figure (as he cited it) will increase taxpayers’ burden and criticized the timing of public materials and the project’s job-support data. Council members did not alter the votes after those remarks; chair and staff noted the project team had negotiated the interest-split language and justified the economic-development approach.
The ordinances now move into the city’s standard post-approval processes for bond issuances and project implementation.
