WATCH: Town Council Worksession 11/20/2017 – Part 4 Police HQ Financing

Agenda Item: 30 Year Fixed Term Financing – Additional Information/Discussion
Summary: The Front Royal-Warren County E.D.A. has provided information for the Town’s consideration, regarding an alternative funding option on the construction of the new Police Department. The alternative option is a 30-year term fixed rate loan at an interest rate of 2.65%. The funding option could also be used for Happy Creek Phase II. The option was discussed at the November 6th, 2017 work session at which time council requested additional information & scenarios regarding the financing.
Council Discussion: Council is requested to discuss if the 30-year fixed term rate financing would be preferred for financing the construction of the new Police Department Headquarters and provide staff with direction to move forward with pursuing the financing or to remain with the New Market Tax Credit Program.

Download the agenda here: Agenda_11202017-637