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Why not pull money from the Center City project and use it for the shortfall?

April 26, 2017center city money project pull shortfall

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Why not pull money from the Center City project and use it for the shortfall?

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The city borrowed about $12 million, at the very low rate of 1.1 percent, to buy the Old Water Co. block for the Center City project. We will make payments on that loan in future budget years. No other city money currently is being used for Center City. Also, the city is now generating $100,000 in revenue from the Old Water Co. block because we are taking over the commercial parking lots on a portion of the land.