West Greeley Oversight Committee Recommends Financing Search Pause

Citizen panel asks city to seek better borrowing terms before moving forward

The West Greeley Citizen Oversight Committee has issued its first formal recommendation to the Greeley City Council, advising the city to continue searching for a financial partner capable of securing more favorable interest rates before advancing the West Greeley project.

After six weeks of reviewing project materials, evaluating costs, and discussing potential options, committee members recommended pausing their work until additional information becomes available. The committee requested updated project cost estimates, revised economic development projections, and details regarding any potential financing partnerships.

The recommendation was presented to the City Council on June 9. Committee members indicated that further discussions would be more productive once new financial information is available and a potential lending partner has been identified.

According to city officials, the committee’s review process included examining complex project data and considering multiple perspectives on the project’s future.

“Over the past six weeks, this committee reviewed a lot of complex information. They gave it the careful review it deserved,” said Bret Naber, deputy city manager of infrastructure. “Even though members had different opinions about the project, they worked through the facts, listened to one another, and found common ground.”

If the city identifies a financing partner, the committee is expected to reconvene to review updated information and consider possible next steps.

Additional information about the project is available at Speak Up Greeley’s West Greeley Project Update page.

A note from Publisher Blaine Howerton

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Source: City of Greeley

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