Town News

Town of Frisco Offers Certificates of Participation to Fund Workforce Housing

In response to continued need for housing, the Town of Frisco is planning to issue approximately $6,575,000 in Certificates of Participation (COPs) to fund the Granite Park workforce housing project. Frisco Town Council approved this pursuit of funding for the Granite Park workforce housing project at its February 14, 2023 regular meeting.

The Town of Frisco has made it a priority to provide the local community with an opportunity to purchase these COPs, which may be purchased in $5,000 denominations with maturities from two to 20 years. The COPs are scheduled to be sold on April 12, 2023.

The COPs are rated Aa2 by Moody’s and are secured by an annual appropriation pledge by the Town to make lease payments from available funds and by lease payments made by the tenants of Granite Park. The COPs are not general obligation bonds.

Town of Frisco has engaged investment banking firm Stifel, Nicolaus & Company, Inc. to manage the sale of the COPs. Any interested individuals may contact their investment advisor or broker or contact Mike McCallum of Stifel Public Finance at (970) 945-5275 prior to April 11, 2023.

The Preliminary Official Statement, dated April 4, 2023, are now available for viewing online.