Greeley announces COP funding plan for City Center, fire station projects

GREELEY — The city of Greeley said Wednesday it will be issuing certificates of participation to fund the construction of a fire station and the first phase of a new City Center.

The Greeley City Council approved the use of certificates of participation last week.

The city said both buildings are necessary, in part, due to Greeley’s growth; duplicative government administrative buildings; and the construction of a hotel and conference center that has recently displaced some city government services.

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The projects are part of a larger $30 million plan to consolidate the city’s administration offices that are spread throughout downtown Greeley into one complex.

Through the certificates of participation, investors purchase a piece of the building and property. Each year, the city will make payments and purchase a portion of the building and property from investors. After 20 years, ownership of the building transfers to the city of Greeley. The city said taxes will not be raised to make the payments.

The city used COPs on two occasions: acquisition and construction of Boomerang Links and irrigation improvements at Highland Hills Golf Course, and construction of the Events Center at Island Grove Park.

Access to this investment opportunity has been arranged through Stifel Financial Corp.  Stifel has an office in Greeley, where businesses, organizations and individuals can arrange to be part of the offering by calling 970-350-7200 or 855-275-9135.

Additional information about COPs, and the fire station and City Center projects can be found at www.greeleygov.com and www.greeleygov.com/city-center.