Grand Rapids DDA has $1.7M new dollars for downtown capital projects
In a tight economy, the Grand Rapids Downtown Development Authority “saved” about $1.7 million by engaging in some smart financing.
In a tight economy, the Grand Rapids Downtown Development Authority “saved” about $1.7 million by engaging in some smart financing. The board will prioritize downtown capital projects in line for funding.
According to excerpts from the story:
GRAND RAPIDS — The city’s Downtown Development Authority is $1.7 million richer thanks to efforts to refinance a portion of the bond debt tied to the Van Andel Arena. DDA Director Jay Fowler said the money came as a result of paying lower interest on $28.4 million of newly-issued bonds. The additional funds can be used to fund capital projects downtown. Fowler said he’ll begin reviewing the best potential uses of the funds soon.
Read the complete story here.
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