When Klaff began working on this project, the shopping centerwas placed into a tax-increment refinancing district created tofinance demolition of the public works building on an adjacentsite.The City of Elmhurst provided the $20 million mortgage, raisedfrom the issue of sales tax revenue bonds, needed to carry out themultiphase project for the center. The loan is secured with a fixedrate for 20 years.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
