"The Maine College of Art has dropped its request that Portland taxpaye"
 

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

Authors

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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