7 years, 6 months ago by Scott Hardy
Owners want to pay some $6.2 million next January
The City of Quincy's Finance Committee has voted to recommend approval of a measure to let the owners of a Quincy shopping center pay off their bond early next year. Scott Hardy has more.
(Audio)
Representatives from ORIX Real Estate Capital, which owns the Prairie Trail Shopping Center, want to pay off some $6.2 million remaining on the bond. The company wants to pay the bond off next January, some seven years ahead of schedule. 4th Ward Alderman and Finance Committee Chairman Mike Farha says ORIX's early payment would help Prairie Trail, and at no cost to the city.
(Audio - Alderman Mike Farha :15)
ORIX says it will re-invest at least $100,000 a year in savings from the early bond pay-off, back into Prairie Trail. The Council will still have to approve the measure, likely next month.
