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Monday, November 30, 2009

Harbour Bridge Authorities Search for Cash

One option down for the Harbour Bridge Authority in it's search for construction cash. A bank loan was approved subject to a federal or provincial loan guarantee, but they can't get either, so the search continues. General Manager Ken Anthony tells CHSJ News, the state of the economy could be playing a factor in a bank's final decision.

Total cost of the project is over $30 million dollars. The Bridge Authority has been approached by another bank and are also looking into possible private financing avenues. If neither of those come through, Anthony says he isn't sure where they will go.