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Crown Point redevelopment commission adopts Venture One project report, recommends $9.915 million bond issuance
Summary
The Crown Point Redevelopment Commission adopted Venture One's project report, approved a commission resolution authorizing bond issuance up to $9,915,000 to fund public improvements, and voted to recommend the council adopt a related bond ordinance; the developer said the tenant is under NDA and will be disclosed before the April 6 council meeting.
The Crown Point Redevelopment Commission voted to adopt Venture One’s project report and approved a resolution authorizing economic development bonds with a maximum principal amount of $9,915,000, the commission said. The body also voted to forward a favorable recommendation on the council’s bond ordinance; the council is scheduled to consider final approval on April 6.
Heather, who presented the project report to the commission, told members the development is expected to generate approximately $100,000,000 in capital investment and roughly 400 construction jobs with an average wage she summarized as about $85 per hour. “We’re asking that you adopt the project report and then hold the public hearing on the final action resolution and consider adoption of that resolution, which will…
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