EDC advances Hunts Point Produce Market redevelopment, to form SPE and pursue ~$230M RIF loan
EDC presented a plan to redevelop Hunts Point Produce Market (largest U.S. produce market), outlined a $635M project cost with $405M in public subsidy, and asked the committee to authorize formation of HPPM LLC to pursue an estimated $230M Build America Bureau (RIF) loan; the committee approved the authorization.
The full story
The committee approved staff requests to form a special-purpose borrowing entity and to pursue a Railroad Rehabilitation and Improvement Financing (RIF) loan to support the Hunts Point Produce Market redevelopment.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
or