Last summer the Arts of Collin County first announced their intentions to proceed with bidding on the first phase of their arts center project in order to see how low construction costs might go in this weak economy. At the time, I speculated that if they got within a few million dollars of their goal, maybe they would look for a loan to bridge the gap. I cast doubt on whether a city like Plano, given its own recent budget crunch, could support that.
Well, it’s Allen that looks to be offering a $5 million loan to get the delayed project under way and take advantage of these low, low construction prices.
