Financing Problems Continue To Plague UWM Business Center In Tosa
Tom Daykin reports that a County Board committee approved a two-year delay to UMW's private-sector funding arm that continues to struggle with fundraising to get the innovation center slated for the County grounds underway.
Some background, here - - and, as I have written several times - - it seems the private sector presses government hard for new facilities, like the Water Council's planned offices on a publicly-owned parcel near the Harley-Davidson Museum, but donors don't follow through.
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The meeting was a soap opera, plagued with sympathy from most Committee members, backed-up-with-fact concerns from others. The private sector arm mentioned 2 things that were telling: "no prudent private business developer would go forward with this deal" and "no bank would finance this deal". Will the County bank roll this extreemly questionable project? Are they willing to re-write their 2011, 2012, 2013, 2014,...... budgets to help this go forward? There continues to be the possibility that the second payment will not come.
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