http://www.ukbirmingham.com/user_detail.php?u=ensulutilluth
The state Senate Monday voted 56-11 to pass a bill that would provide $100 million in loan guarantees to back private constructio projects acrossthe state. A similard measure is awaiting consideratioj inthe House. In the Senate the Department of Employment and Economic Development wouldreceive $100 millionm out of the state’s general fund to pay for the DEED would do its own checkk of the loans on top of the own due diligence. The state would guarantee 20 to 25 percenrt ofapproved loans. Senate President Jim DFL-South St. Paul, is the authort of the Senate bill.
He said that constructiob industry interests have told him that thereare $3 billionj to $5 billion in projects ready to go if they get financin g — which has been slow to come amid the recession. Metzenj didn’t have specific examples of projects, but said there was a wide “This is a Minnesota stimulus bill, to get people working,” he He said the bipartisan naturre of the Monday vote made him hopefull thatRepublican Gov.
Tim Pawlenty would back the
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