When I shared this information with my financial advisor earlier this week who does risk managing for municipalities, his advice was the LCCCA shoould better call in their monies and not even consider collateral.
My personal suggestion to the finance committee is to go to Fulton Bank, a past limited partner of Penn Square Partners, and have them put together a good package for this construction money because they are VERY conservative and, if this project is such a good idea, who better to give us an extra point or two on 25 to 30 million dollars?
