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Council authorizes mayor to sign refinancing documents, discusses $250,000 lighting expense and reappointments
Summary
Council approved a municipal order authorizing the mayor to execute refinancing joiner documents for NAB Fort Thomas LLC, discussed a $250,000 funding authorization for school ball‑field lighting conditioned on an updated lease, and approved reappointments to advisory boards.
The Fort Thomas City Council voted by roll call to authorize the mayor to execute documents that would allow NAB Fort Thomas LLC to refinance an equity line of credit for the 1 Highland project, and it addressed a separate request to authorize up to $250,000 for ball‑field lighting at city‑owned school property.
City administration told the council the refinancing request arose because the developer’s equity line will experience a rate change on Jan. 1 and the developer sought to lock a new rate for three years. The administration described the request as a loan‑refinance joiner distinct from the original IRB (which the administration…
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