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Greensboro council approves up to $21M in bonds to upgrade Coliseum Complex despite public ethics concerns
Summary
Council voted 9–0 to request Local Government Commission approval for up to $21 million in limited obligation bonds to fund Coliseum Complex improvements funded by hotel-motel occupancy tax revenues. Public speakers raised conflict-of-interest and transparency concerns; city leaders defended the financing as necessary to maintain economic impact.
The Greensboro City Council on Jan. 20 authorized staff to pursue limited obligation bonds not to exceed $21 million to fund improvements at the Coliseum Complex, to be repaid from the city’s portion of hotel-motel occupancy tax receipts.
Assistant City Manager Larry Davis said hotel-motel tax revenues have rebounded since the COVID-19 period, approaching approximately $6 million annually, and that accumulated receipts now support a debt-financing approach to pay for improvements including concourse restroom…
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