San Francisco Wants to Use Buildings as Collateral

Wednesday, Jul 29, 2009  |  Updated 6:59 AM PDT
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San Francisco Wants to Use Buildings as Collateral

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The city is looking to put some of its buildings up as collateral to qualify for loans.

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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.

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