Answer; "Possibly, if their museum tour/ticket sales increase."
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Who gets the payments from 2019 to 2044 to US Bank Loan and the SCD Loan?
"If the “right to exercise the option is not exercised in 3 ½ years” then these payments would continue to US Bank and the SCD Loan as these are the Maturity Dates (2044 for each loan). (The City hasn’t seen this Exercise Option in writing but, this has been stated a few times orally) (3 ½ more years would be the end of the Tax Credit Compliance Period)"
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What are the consequences of not assisting with the Carolina Bank Loan?
"The entity would be in default since the July payment was not made and we are now in September."
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Thank you,
Public Information Desk
City of Greensboro
300 W. Washington Street
Greensboro, NC 27401.
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If some loans are unsecured by the property,
why should Greensboro taxpayer's bail out non real estate related debt?
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