Kelly Merrick
212:09 - 212:44
"there is significant concern that the hard deadline for completion of Phase 1 will place doubt in the mind of investors, making it difficult to raise the needed capital for this project. Lenders take the most conservative view and will make a risk assumption that a delay may occur, resulting in a dramatic change in the developer's ability to service the debt."
“there is significant concern that the hard deadline for completion of Phase 1 will place doubt in the mind of investors, making it difficult to raise the needed capital for this project. Lenders take the most conservative view and will make a risk assumption that a delay may occur, resulting in a dramatic change in the developer's ability to service the debt.”
- Speaker
- Kelly Merrick
- Timestamp
- 212:09 – 212:44
- Community
- Alaska News
- Location
- Alaska
- Captured at
- June 19, 2026
From the transcript
However, Mr. President, there is significant concern that the hard deadline for completion of Phase 1 will place doubt in the mind of investors, making it difficult to raise the needed capital for this project. Lenders take the most conservative view and will make a risk assumption that a delay may occur, resulting in a dramatic change in the developer's ability to service the debt. At best, this makes the debt more expensive. At the worst, completely unavailable. Mr. President, if construction is completed on January 1st, 2033, rather than a day earlier, the tax abatement and the AVT no longer apply to this project.
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