City Secures $30 Million in Financing

Project Downtown, the city’s long-term initiative to reinvest in Downtown Littleton’s infrastructure and public spaces, is taking significant steps forward: city council approved key contracts supporting delivery of Phase 1, Main Street Improvements, and approved a $30 million financing plan to fund the work.

Downtown is the heart of civic life in Littleton, and the forthcoming Main Street Improvements will modernize aging infrastructure while preserving the area’s historic character. The project will address deferred maintenance, restore trees and green infrastructure, and improve safety, walkability, accessibility, and the overall experience for residents, visitors, and businesses.

City council approved a plan to issue up to $30 million in Certificates of Participation (COPs) to fund Project Downtown improvements. Certificates of Participation are a financing tool that allows cities to fund major capital projects. Investors purchase certificates and receive regular repayment from the city, subject to annual appropriation by city council. The source of repayment for the COPs is generally available revenues of the city.

This isn’t Littleton’s first time using COPs. In 1999, the city issued $3.4 million in certificates to renovate the Littleton Municipal Courthouse, a historic building dedicated in 1908 that had sat vacant for over a decade. The courthouse was successfully renovated and re-dedicated in 2000. Since then, Littleton has also used COPs to fund renovations to the Littleton Museum, a fleet building, and the construction of a fire station. Littleton’s approach to debt — using it strategically for major projects and paying it off — has kept the city’s overall debt minimal while funding essential improvements.

When Littleton went to market with the COPs offering in July 2026, investors responded enthusiastically. The $30 million offering attracted orders from major institutional investors including PIMCO, Vanguard, Goldman Sachs, and Northern Trust. This strong demand reflected investor confidence in Littleton’s financial health.

For the first time seeking a credit rating in over 20 years, Littleton received an AA+ issuer rating with an AA rating for the COPs from S&P Global — the firm’s second-highest rating. This is a strong endorsement of the city’s financial strength, reserves, and management.

The pricing was favorable: investors paid $32.8 million for $30 million of certificates. These additional proceeds create more funds available for the project.

To move the project from concept to construction, the city has assembled an integrated project delivery team that brings design, construction, project management, and cost-estimating expertise into the planning process from the start. This approach identifies risks early, improves cost certainty, and supports informed decision-making before construction begins.

The project team will now advance preliminary design, evaluate parking and curbside strategies, validate costs and constructability, and support stakeholder engagement. This initial design phase is critical to balancing long-term improvements with the dayto-day needs of Downtown Littleton.

This project reflects Littleton’s commitment to supporting a dynamic downtown while recognizing the complexity of delivering improvements in an active business district. The phased approach, combined with a project delivery team specifically assembled to manage risk, will help ensure that when construction begins, it is practical, wellplanned, and aligned with downtown’s needs.