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 URBAN HEADLINES
The Week in Public Finance: Public Pensions Edition3 days ago
FCC Kills State Laws Blocking Municipal Broadband4 days ago
Rahm Emanuel Forced into Chicago's First Mayoral Runoff5 days ago
Chicago Voters Head to Polls to Decide Rahm Emanuel's Fate6 days ago
Businesses Willing to Help Fund Sacramento Streetcar1 week ago
At Least 30 Days Til Boston's Transit Is Back on Track1 week ago