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
Obama's Last Budget: The Breakdown for States and Localities18 minutes ago
Pennsylvania Governor Prepares New Budget While Still Struggling to Pass This Year's7 hours ago
White House Asks Congress for $1.8 Billion to Combat Zika8 hours ago
Is Paying People Not to Commit Crimes Effective?1 day ago
Gas Tax Increases Still a Hard Sell in States and Congress4 days ago
Obama Wants to Tax Oil Companies to Fund Green Transit4 days ago