Greeley council to weigh $25M loan from city’s general fund

The Greeley City Council on Tuesday night will vote on whether to borrow $25 million from general fund reserves to help fund a couple of downtown redevelopment projects.

The Greeley Tribune reports that the money would be used to buy buildings, demolish them and design their replacements. The redevelopments in question are a hotel and conference center on Seventh Street and a new municipal complex to house city offices. The money would be paid back in yearly increments of $1.5 million.