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NEW YORK CITY-City officials as well as community advocates are worried about government-backed financing for a projected 73-room hotel in Williamsburg. Officials raised questions about the economic benefit the new project would bring to the region.

Two Trees Management Co. is trying to get $15 million in federal tax-exempt financing to construct the hotel on a 11,105-square-foot land situated on Wythe Avenue. The New York City Capital Resource Corp. will hear on the project to decide on financing for the hotel. For the full story, go to Wall Street Journal.

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