Here's Why That $30 Million for Southern Dallas Development Is Sitting Unused

The Dallas Morning News headline was provocative: "What's keeping $30 million in private money from making southern Dallas better?"If only the answer was as simple as the question.Economy writer Jill Cowan reported last week that the millions of dollars that Mayor Mike Rawlings persuaded private investors to pool into an independent-of-City-Hall fund have hardly been touched.Creation of such a fund was a building block of Rawlings' GrowSouth campaign, which focuses on economic development in southern Dallas. It seemed to make financial sense.Real estate experts told the mayor that developers needed an extra boost to start projects in unproven markets. A second lender to bridge the financing gap could go a long way to sparking progress in southern Dallas.  Continue reading...

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