Bonds used to relocate the Elitch Gardens amusement park from its historic home in north Denver to downtown have been paid off nine years ahead of schedule, officials said.
The early repayment of the bonds will save the issuer, Denver Urban Renewal Authority, more than $5 million in interest, officials estimated.
“Throughout DURA’s 50-year history, our priority has been to minimize the amount of public investment while structuring agreements which can pay back such obligations as quickly as possible,” DURA executive director Tracy Huggins said in a prepared statement. “In this case, over $5 million in budgeted debt service charges can now be used elsewhere throughout the city.”
Elitch Gardens moved to the Central Platte Valley on the northern edge of downtown in the mid-1990s, replacing a former rail yard.