County EDC: Money to Loan, But No Deals
Washtenaw County Economic Development Corporation board meeting (March 15, 2010): On Monday, the EDC board met for just the second time since 2005. On the agenda: A discussion about the availability of federal bonds that have been allocated to Washtenaw County, but not used, for projects by private firms.
Though federal legislation expanded the types of businesses that can use the bonds, a national credit crunch has essentially slowed potential deals to a halt. “We await the projects,” said John Axe, the EDC’s bond counsel. Unless extended by Congress, the program expires at the end of 2010. [Full Story]