Englewood downtown authority plans first bank loan for 2027 projects
The authority sent a preliminary $9.28 million budget to City Council, with $6.25 million proposed for capital investments.
Englewood’s Downtown Development Authority voted to forward a preliminary $9.28 million 2027 budget to City Council, proposing its first bank loan to help finance investments in South Broadway Public Realm and Old Hampden Complete Streets. The authority’s action record shows five members voted yes and two were absent.
The proposed budget forecasts $5.10 million in revenue and $9.28 million in expenditures: $6.25 million for capital investments, $1.98 million for operations and programming, and $1.05 million for debt service. The authority’s Oct. 5 City Council packet says it expects to use its first bank loan for some 2027 investments and lists direct borrowing for the two projects.
A preliminary budget schedule projects assigned fund balance falling from $10.41 million in the second quarter of 2026 to $6.23 million at the end of 2027, a draw of about $4.18 million. The schedule does not explain whether that projected draw includes or is separate from the planned borrowing. The council packet does not specify the loan amount, repayment terms or repayment source.
The proposal also includes a $2 million authority contribution to Little Dry Creek Park and Plaza and a potential contribution to Old Hampden Complete Streets, with the amount dependent on final design. The Oct. 5 council agenda schedules a study session to present the proposed budget and answer questions, not an approval action.