Downtown Detroit Projects Derailed Over Financing
The reluctance of banks and major pension funds to underwrite loans for downtown projects has been a consistent problem for the struggling city.
The reluctance of banks and major pension funds to underwrite loans for downtown projects has been a consistent problem for the struggling city. As a result, the gap between what traditional lenders will offer and what a project actually costs must be filled in with a patchwork of nontraditional loans and subsidies from government and foundations, slowing down the entire process.
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
LATEST FINANCE HEADLINES
The Week in Public Finance: Several Shades of Bad News1 day ago
Los Angeles Failed to Collect $1.8 Million in Overtime Reimbursements1 day ago
American Wages Might Explain Puerto Rico's Economic Troubles1 day ago
How Puerto Rico Got So Deep in the Red2 days ago
10 Years and Still Waiting for Space Travel's Takeoff2 days ago
Budget Stalemate Cripples Illinois Government3 days ago