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.
Updated at 6:59 AM PST on Wednesday, Jul 29, 2009
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.