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By jason (registered) | Posted September 25, 2009 at 13:59:24
keep in mind, there is a BIG difference between subsidizing a developer and loaning out money that is repaid within 10 years. The city is merely doing what banks won't. The downtown residential loan program is one of the few programs in the entire city that I think is worth it's weight in gold. The new residents downtown, new taxes being generated and increased assessment of these properties has been nothing but good news for downtown. I'd much rather have $700,000 loaned out and then recouped in increased taxes instead of dishing out the hundreds of millions we give to new sprawl developments and never see anything repaid.
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