A former mayor of Pittsburgh finds it "gutsy." A New York real estate attorney calls it "extremely unusual."The "general welfare" ?
They're referring to Indianapolis Mayor Greg Ballard's proposal, revealed last week, to guarantee an $86 million loan to build a hotel, apartments and office and retail space near Eli Lilly and Co.'s headquarters on the south edge of Downtown.
In essence, the city would be taking on the role of banker by financing the privately developed, mixed-use project.
Tuesday, October 05, 2010
City-backed development is stacked with risks: Proposal to guarantee $86M loan for project near Lilly headquarters is unusual, experts say
The Indianapolis Star reports on economic fascism in America:
