Word: loaned
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Dates: during 1990-1999
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...Deposit city funds only in banks that loan money to repair and improve rent-controlled buildings...
These options include a two to five percent Affordable Housing Preservation Fund fee, to be levied on middle and upper income tenants, and a revolving loan fund allowing property owners to borrow money at low interest rates to maintain the rent-controlled buildings...
...Instead, the money for building improvements should come from other, more reasonable resources," he said. "For instance, the revolving loan fund is a great idea, but we should put aside at least two times the amount that was projected. And the idea to put pressure on the banks to reinvest is a good one, but we should expand that approach...
...loan fund of a million dollars wouldn't even come close to solving the money problem, and I wouldn't want more debts anyway," the Cambridge native said. "Also, why can't the owners just get more money through a higher cap than with a tenant tax? Give me the money and I'll put it into the buildings. I don't want a third party involved...
...findings came after a 14-month investigation detailing how more than $1 million in contributions, four trips to the Bahamas and all-expense-paid stays at resort hotels found their way from indicted savings and loan executive Charles Keating, who needed protection from federal regulators trying to shut him down, to five U.S. Senators and their staffs. The committee found Senators John Glenn of Ohio ($234,000 in Keating contributions) and John McCain of Arizona ($112,000) the least culpable, engaging only in "poor judgment" because they gave Keating less help than did the others. Senators Donald Riegle of Michigan...