I speculated last month it’s entirely possible that Greensboro’s proposed stimulus -financed downtown hotel could end up like many other grand front-page projects that just never happened.
Is it possible I could be right? Project developers are suddenly missing in action:
City staff members said they haven’t heard from the hotel developers in weeks and assume they are working on the project’s financing before they move forward.
“They have to have that to basically make the bonds marketable,” said John Shoffner, city economic development manager. “I don’t think that’s an easy task to accomplish.”
Potential bond projects have to be approved by the Local Government Commission by April 15 in order to take advantage of the program.
“The bonds are supposed to be issued by April 15,” Shoffner said. “The clock is ticking on these things.”
The bond market is still not good. Guilford County Schools is getting ready to find that out.
