Hi Everyone,
Just wanted to let you know that a possible aid in financing has recently come across my desk that can help in Hotel financing specifically. Attached is information on Recovery Zone Facility Bonds (RZFBs) for your convenience. Basically, you could get a certain amount of bonds as tax-exempt using the City's name which would in turn lower you interest rates considerably on that portion of your borrowing. There is a statewide pool of money that could qualify for hotels, but time is of the essence since the bond money is gone as of January 1, 2011. The City just has to label the community as a recovery zone which we are willing to do if this helps someone out.
Taking advantage of such a tax exempt bond coupled with our aforementioned grant money from the City of Muskego may help bridge that financing gap!
As always, keep lines of communication open with me if interested.
State link to RZFBs: http://commerce.wi.gov/BD/BD-
Go Muskego!
Jeff
______________________________
Jeff Muenkel, AICP EDFP
Community Development Director
City of Muskego
W182 S8200 Racine Avenue
PO Box 749
Muskego, WI 53150-0749
Phone: (262) 679-4136 or (262) 679-4145
Fax: (262) 679-5614
Email: jmuenkel@ci.muskego.wi.us