The Maine College of Art has dropped its request that Portland taxpayers subsidi

Source

Portland Press Herald

Date

4-9-1994

Pages

2B

Abstract

The Maine College of Art has dropped its request that Portland taxpayers subsidize the interest on a $1.6 million loan it wants from the city. The college last month asked Portland officials to lend it $1.6 million at 3 percent interest over 30 years. The city would have to borrow the amount at between 5.5 percent and 6 percent interest, meaning Portland taxpayers would have to pay between $842,000 and $1.2 million over the life of the loan. The college would still like the loan, at whatever interest rate the city receives. Details.

Subjects

Maine College of Art -- Portland

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