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Fort Thomas council authorizes mayor to review 1 Highland refinancing documents and approves up to $250,000 for Winkler Field lighting
Summary
City council authorized the mayor to review and, if acceptable, sign joinder documents tied to a refinancing at 1 Highland and approved up to $250,000 to fund Winkler Ballfield lighting; council emphasized staff review and said the city will recover costs through a revised lease.
Fort Thomas — The City Council on Dec. 15 authorized the mayor to review and potentially sign joinder documents connected to North American Properties’ refinancing at 1 Highland and approved up to $250,000 to install lighting at Winkler Ballfield.
City Administrator (speaker 2) told council the refinancing request concerns an equity line of credit the developer wants to refinance before an upcoming rate change on Jan. 1. Staff and outside counsel reviewed the documents; legal input summarized to council indicated the city would not incur liability for payment under the joinder as written. Council voted to give the…
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