Centerra audit report details lax processes, conflicts by developer

Centerra audit report details lax processes, conflicts by developer

A months-long financial investigation of the original Centerra urban renewal plan found widespread departures from the financial, bidding and governance rules intended to safeguard hundreds of millions of taxpayer dollars used to construct public improvements. In its 55-page report, national accounting firm Ernst & Young described a pattern of informal practices, missing documentation and potential conflicts of interest that auditors said weaken…

Loveland asked to unseal final Centerra audit report

A Louisville-based attorney has given the City of Loveland and its Urban Renewal Authority until Dec. 17 to release the final audit report from accountants Ernst and Young, which conducted a forensic examination of more than $1 billion in cash flows through the Centerra urban renewal plan.