Garment & Citizen says." /> Old Bank District developer seeks new city loan - LA Observed
Downtown

Old Bank District developer seeks new city loan

Tom Gilmore, whose adapative reuse projects in Downtown have benefited from a favorable loan from the city of Los Angeles, is facing a financial pinch and has gone back to the city for a new loan, the Garment & Citizen says. Gilmore needs the loan in order to refinance an estimated $35 million in debt with the Federal Housing Administration, the weekly paper says. Gilmore's original city loan of $5.1 million allows for payments to be missed, and the balance has grown over nearly ten years to $5.3 million, the story says.


More by Kevin Roderick:
LA Observed Notes: 60 Minutes, selling the Coliseum and more
Gil Cedillo, Nick Melvoin win LA runoffs*
LA Observed Notes: Baca goes down, LAX shuffle, media moves
LA Observed Notes: Big TV news, media moves, obits and more
LA Observed Notes: Writers on the verge, Fox, the riots and more
Recent Downtown stories on LA Observed:
Councilman Cedillo forced into runoff*
Streetscape: Looking up on Bunker Hill
Streetscape: West 2nd St.
Massive DTLA crowd joins millions in Saturday marches for women
Where in LA Kristen Stewart drives in 'Ride Em on Down' video
Wilshire Grand spire
Streetscape: Arts District
Sue Laris puts Downtown News up for sale after 44 years


 

LA Observed on Twitter