San Francisco Wants to Use Buildings as Collateral
The city is looking to put some of its buildings up as collateral to qualify for loans.
Wednesday, Jul 29, 2009 Updated at 6:59 AM PDT
Looking for a little more cash in pocket, the city may soon put up some of its buildings as collateral for a $150 million loan.
The main intent, it's said, is to provide financing for capital projects: street repaving, facility improvement, and other exciting things like that. Some of the buildings on the list: Alemany Market, the Police Academy, and the Northern Police Station.
We trust City Hall won't be getting hocked.