Posts Tagged ‘loan’

Cash Grants for Real Estate Developers without Competition for Jobs—A Constitutional Quandary

Tuesday, September 15th, 2015

A local real estate developer, Al Czervik, proposes to construct a mixed-use development with residential, office, and retail space. The city council likes the development plan because it is consistent with the council’s vision for the area. Czervik, seeing incentives being offered to convince companies to locate in North Carolina rather than other states, misses […]

Security for a Local Government Loan

Monday, January 27th, 2014

May a unit pledge town hall as security for an installment finance loan, where the borrowed monies will be used to fund road and sidewalk construction and improvements? If a municipality issues revenue bonds to fund an expansion to its water system, may it repay the loan with general fund monies? May a county pledge […]

Local government assistance for a real estate development project—without making a grant

Tuesday, September 18th, 2012

Al Czervik is a real estate developer who has invested in several shopping malls and mixed-use developments across the Tar Heel state. He is planning a mixed use development called “Gopher Commons” in your community, but “in order to make the numbers work,” he claims that he needs local government assistance to address a “financing […]