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: Atlantic City, Volcker Rule Relief and Oil Worries20 hours ago
Jersey Leader Accuses Christie of Trying to "Force" Atlantic City into Bankruptcy1 day ago
What the CBO’s Latest Predictions Mean for States and Localities1 day ago
Is Atlantic City Headed for Bankruptcy?1 day ago
California Can't Account for Impact of $13 Billion2 days ago
Vying for Funding, Rural Counties Often Lose to Big Cities2 days ago