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AC may help casino with roadway financing
Wednesday, July 9, 2008 at 3:53:00 PM
With tight credit markets threatening or slowing casino projects here and around the country, the developers of the $2 billion Revel casino-hotel are turning to the city for help.
The City Council is scheduled to introduce an ordinance Wednesday night that would allow it to issue $56 million worth of bonds to provide money for Revel to redesign and widen access roads to the project.
Revel would be responsible for paying interest on the bonds, whose term and interest rate have not yet been determined, said Lloyd Levenson, an attorney for Revel.
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