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Westfield council authorizes bond capacity for developer‑owned parking garage
Summary
The council adopted Ordinance 25-85 authorizing up to $19 million in economic development revenue bonds to finance a parking garage for the Park and Condo project; the garage will be constructed and owned by the developer and the ordinance passed unanimously.
The Westfield City Council voted unanimously on Dec. 22 to adopt Ordinance 25-85, authorizing economic development revenue bonds of up to $19,000,000 to support construction of a parking garage incident to the Park and Condo project.
Dustin Meeks, appearing remotely, told the council the ordinance establishes the terms for bond issuance and a loan agreement that would loan bond proceeds to the Westfield Park Street Building Corporation; that…
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