Would love to know the interest rate Katz is paying on that $135 million the city is basically fronting him. Betcha it wont be market. What a frickin huge joke this all is.
Seriously, why doesn't Katz behave like any other normal investor and borrow his money from a bank like anyone else? Why is he borrowing it from the city. That's an implicit subsidy right there using the City's credit rating. Means the city would not be able to borrow as much as it could borrow to keep their credit rating.
Huge joke.
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