Thursday, July 15, 2010

Downtown Gold's Gym Project Seeks $6 Million In City Bonds

“Compass Properties' renovation of a vacant building into a large fitness center that's being leased to Gold's Gym could benefit from a $6 million bond issue by the city Redevelopment Authority. The authority would not lend money for the project. But, by approving a bond issue, Compass could sell tax-exempt bonds, issued in the authority’s name, that would allow the firm to borrow the money at a lower interest rate. Compass would repay that debt to the bond purchaser, M&I Bank. Compass in May started renovations to create the Gold's Gym...

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