On Monday the Denver City Council voted to back up the 300 million in federal loans for the redevelopment of Union Station 12-1. This vote means that general-fund dollars could be tapped if tax receipts fail to cover debt payment. According to Claude Pumilia, the city’s chief financial officer, “There is minimal risk and very extraordinary benefits for this project and that is why we’re supportive of it.” He said that the feasibility study was done and even if only 44% of the projected revenue materializes, the city’s general-fund would never get tapped. This is another great push forward for the start to this incredible redevelopment. To read the whole article, click here.
Good News for Union Station
January 29, 2010 by Leave a Comment