Paulson stadium loan deal revealed
We have finally managed to wrest from the City of Portland the proposals that it has received for "temporary" (up-to-five-year) financing of the city's $12 million share of the upcoming re-renovation of PGE Park. The proposal that the city has selected, from Bank of America, is here. The proposals that were rejected were from JPMorgan Chase, Umpqua Bank, and Wells Fargo. As noted yesterday, the scheduled closing date for this borrowing has been pushed back from February 5 to March 10.
We'll add these documents to our weekend light reading list, but given that the city's been guarding them closely, we thought just having them was news enough for a Friday afternoon post.
Comments (2)
Be interesting to know how they get past the temporary financing rule of repayment due in 13 months??
A line with an auto renew set for 12?
Posted by mark | February 13, 2010 12:41 PM
There is no such rule that I can find.
Posted by Jack Bog | February 13, 2010 1:28 PM