Amid bailouts, localities aid developers

USA Today reports:

On a stunning bluff overlooking the Pacific Ocean near Los Angeles, a new luxury hotel and golf resort are ready to open. But, first, they need a little help from taxpayers.

Like a growing number of businesses, the swank Terranea resort knocked on the door of City Hall for financial aid. The developer asked for, and received, an $8 million loan from the city of Rancho Palos Verdes, Calif., to finance the cost of opening the resort Friday.

"This is not a bailout," says Robert Lowe Sr., developer of the $475 million resort. "We're looking for the city to partner with us on an important project in a difficult time."

Following the federal government's lead, cities and states increasingly are handing out financial support to struggling businesses.

There no limit on government. This article is well worth your time.