New York
Related: About this forumNano financing deal with Albany unravels
Jordan Carleo-Evangelist
Albany
The College of Nanoscale Science and Engineering on Friday abruptly yanked a request to the city for access to $186 million in bonds to finance its latest expansion, with a spokesman blaming "disgusting politics" that have enveloped the project.
The deal's collapse will cost the city as much as $1.9 million in project fees it hoped to reap by allowing the NanoCollege to tap low-interest credit for its new Zero Energy Nanotechnology building, which is already rising at Fuller Road and Washington Avenue.
City officials had earlier described the ZEN pact as a coup that would allow Albany to extract a hefty fee as a middle man between the college and bond buyers without any financial risk of its own.
http://www.timesunion.com/local/article/Nano-financing-deal-with-city-unravels-5631821.php