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Financial adviser outlines $46M–$75M options to buy and retrofit Police Hall of Fame; council voices concern
Summary
PFM Financial Advisors presented options to finance acquisition and renovation of the former Police Hall of Fame as a new police headquarters and emergency operations center, with preliminary staff cost ranges from about $46 million to $75 million; councilmembers and residents questioned cost assumptions and called for more detailed engineering and public hearings.
PFM Financial Advisors presented financing options on Jan. 29 for the potential acquisition and renovation of the former Police Hall of Fame into a police headquarters and emergency operations center.
Jay Glover, PFM’s presenter, said the city begins from a position of very little outstanding debt and reviewed financing structures including revenue bonds and general-obligation bonds, noting that Florida law requires voter approval for general-obligation bonds. He summarized that…
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