Financing in place for government center

-A A +A
By The Staff

Adams County is one step closer to its planned government center this week as financing needed for the center’s construction was successfully raised.

    The new government center will be built at 124th Avenue and Sable Boulevard in Brighton. More than $94 million was obtained for this capital improvement from a sale-leaseback transaction. The net interest cost of the transaction was 4.85 percent. 

    “We are very pleased to have secured such low financing for this important project,” Commissioner Larry W. Pace said.  “We had been looking at interest rates of up to six percent, so I’m very proud that we remained committed to finding the best possible rate to finance our county’s future.”

    This financing is supported primarily by county voters who extended a county sales tax in 2006.  The 0.5 of 1 percent sales tax was extended for 20 years to fund critical transportation projects, the justice center expansion, a pretrial holding facility and the new government center.

     Groundbreaking for the new center is scheduled for later this spring. The capital project is anticipated to provide construction jobs over the next 18-24 months.   

    “The new government enter is an important investment for Adams County in so many ways,” Commissioner W. R. “Skip” Fischer said. “Not only will it improve efficiency and cost-effective practices in the future, it provides an immediate boost to our economy now by creating construction jobs.”