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Article: United States : Snags in getting loans may tie up Union Station construction.
- Article from:
- TendersInfo
- Article date:
- October 27, 2009
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Byline: pinto03
Snags in winning up to $320 million in federal loans for the redevelopment of Union Station could mean that construction on the project may not start in earnest until the first quarter of 2010 instead of next month, as originally planned.
The Denver Union Station Project Authority, which is managing the redevelopment project, can't even complete the application process for the loans until it wins a favorable rating on Union Station debt from a Wall Street rating firm.
The authority is bidding for the loans from one program managed by the Federal Railroad Administration and another jointly operated by the Federal Transit ...