White Plains CitizeNetReporter - City Center Financing Expected to Come Through Next Week


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City Center Financing Expected to Come Through Next Week Posted on Thursday, March 28 @ 09:21:48 EST by jfbailey

WPCNR Morning Edition, Filed 3/28/02, 9:30 AM: City Hall was host Wednesday to a small contingent of Cappelli Enterprises staffers, working with city officials and legal representatives to complete the paperwork on the Cappelli Organization multi-million dollar financing package.

A spokesman for the Cappelli Organization, taking a break from the number-crunching, predicted to WPCNR that the long-awaited "closing" would take place next week.

The unofficial word from a trusted Louis Cappelli confidante, dovetailed with comments from George Gretsas, the Mayor's Executive Officer, who stated Tuesday evening that the mammoth closing on upwards of $300 million in financing would take place in the next two weeks.

April is the month when Cappelli Enterprises must begin construction of the City Center, or transform the site into a park if he does not begin construction.

Gretsas said that, if there was any further delay, an extension of the agreement most likely would be granted.

Most read story about Community:
The Mills Mall: A Playing, Buying Environment: Formidable Cappelli Competitor

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