Guiding Golden Heart of Golden Project
City Council will hold a first reading of Ordinance No. 2257 on Tuesday, Dec. 3, 2024, during its regular meeting. The ordinance proposes issuing Certificates of Participation (COPs) to finance the construction of a new Police and Municipal Building as part of the Heart of Golden Phase 1 plan.
This project aims to relocate essential city services to a revitalized east zone of the Clear Creek corridor, enhancing public services while advancing the community-focused vision of the Heart of Golden plan.
The proposed financing plan was discussed at the April 9, 2024 Study Session, when City Council directed staff to continue to engage with the community about the project and to provide a recommendation on funding once the project team was assembled and its design had progressed further. The plan outlined design beginning in late summer or early fall, and construction starting in 2025. COP issuance wouldn’t be considered until the fourth quarter.
Our timeline and design has progressed as anticipated and staff is bringing forward this recommendation of issuance in Dec. 2024 based on the key areas we identified: economic conditions, schedule, debt timing, design progress, and overall community support.
The proposed financing approach emphasizes affordability, sustainability, and fiscal responsibility, with measures such as leveraging city reserves, reducing interest costs, and maintaining funding within the City’s existing revenue streams—ensuring no new tax increases.
Residents may participate and share feedback as part of the public comment portion of the public hearing at City Council’s Regular Business meeting on Dec. 3, 2024. If authorized by City Council on Dec. 3, 2024, a second reading and public hearing of the ordinance would also be held at its Regular Business meeting on Dec. 17, 2024.
Thank you for your ongoing interest and support on this important legacy project!
Kind regards,
The Guiding Golden Team
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