Local

LOANS IN THE BALANCE

The owners of Durham's Heritage Square shopping center want to sell to an undisclosed developer but say the city government should forgive at least half of the center's old loans so that private investors can make money.

1986 investments

in Heritage Square

$2.2 million bank mortgage

$400,000 city grant

$962,000 in city loans

$700,000 in private money

Total investment: $4.3 million

2005 Durham County tax value: $1.9 million

Current balance of bank mortgage: Not disclosed

Owed on city loans as of Nov. 30: $646,029

  Comments