Getting Into Nitty Gritty of Kingsbridge Ice Project Loan
State officials are in the midst of finalizing a $138 million capital loan to the developers of the Kingsbridge National Ice Center (KNIC) after a five-member board approved the measure during their latest meeting. During its Oct. 18 meeting, the Public Authorities Control Board (PACB), which supervises the activities of New York’s numerous public benefit corporations, unanimously approved the general project plan outlined by the state’s Empire State Development (ESD) agency. In addition to the $138 million loan commitment, the ESD plan also includes $26.4 million in historic tax credits and an additional $20.7 million in “other preferred equity.” All
