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Commission hears $2.77 million guaranteed-maximum price for police annex; staff recommends financial advisers for planned capital work
Summary
Assistant city manager and Colliers presented a $2,767,864 guaranteed-maximum price (GMP) for renovation and expansion of the police annex, and finance staff recommended hiring PFM as financial advisers to support potential debt issuances including an estimated $10 million public-safety issuance and a possible $26 million CRA project.
The commission reviewed details of a planned renovation and expansion of the police annex on Tillman Avenue and discussion of financing for upcoming capital projects.
Assistant City Manager Dina Drongo and Colliers representative Ibrahim Garcia Bingo Chayo explained the project scope — offices, training rooms, storage, restrooms, a break room and a secure garage — and presented a…
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