January 07, 2010 at 17:50 PM EST
Cities Aid Developers, To Help Themselves
NEW YORK — City and state governments, despite their own cash shortfalls, are finding ways to help local property developers navigate rough times, in some cases rescuing projects that would otherwise fall victim to the credit crunch. Such public-private partnerships highlight the increased role of the public sector in a business where the help of bureaucrats is typically not wanted. In atypical times, such aid may be a stepping stone toward the
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