Baldwin Park : Refinancing Nets $2 Million
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The city’s Redevelopment Agency refinanced three redevelopment projects, generating $2.3 million, part of which will pay back a city loan.
The $300,000 loan was made last month, when the agency was not able to meet obligations for the San Gabriel River, Puente-Merced and Central Business District redevelopment areas.
“The agency is now in a position to meet all its obligations,” said Mayor Pro Tem Bette Lowes.
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