Fort Collins to host public meeting on proposed changes to mall finance agreement
Additionally, the developer would decrease the total square footage occupied by tenants new to Fort Collins from the previously agreed-upon 120,000 square feet to 90,000.
The Q and A will be held in the community room at 215 N. Mason St.
The agreement between the city and Alberta can be terminated if the bonds are not issued by June 30. The bonds are projected to include an interest rate of around 7 percent, Birks said, but the precise interest rate will not be known until the bonds are issued.
The newly proposed agreement also states that if the requested alterations are made, only $23 million of the $53 million in bond proceeds would be released to the project. The remaining $30 million would be released in segments to the project as additional leases are executed by the developer.
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