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Key Colony Beach explores Certificates of Participation, credit lines to finance City Hall
Summary
At a Nov. 19, 2025 workshop, the Key Colony Beach City Commission reviewed options for financing a proposed City Hall, including Certificates of Participation (COPs), lines of credit and state low-interest programs; staff said they are awaiting a formal proposal from the finance attorney.
Mayor Freddie Foster opened the Nov. 19, 2025 workshop and raised financing options for a proposed City Hall, including securing a line of credit or issuing a Certificate of Participation (COP) as alternatives to a traditional municipal loan. He explained how a COP differs from direct borrowing and noted potential referendum requirements tied to long-term construction debt.
Accountant Peter Rosasco and guest consultant Will Reed of Ford & Associates outlined complementary options—bank loans, grants and state low-interest programs—while cautioning about upfront costs and repayment structures. The commission did not take a formal vote; commissioners and staff said they will await a written proposal from the city finance attorney that will clarify statutory and referendum implications before pursuing a specific financing path.
