Wednesday, June 16, 2010
The city is willing to lend $2 million to convince a call-center company to locate an expansion here that would create at least 500 new jobs downtown.
City council approved the $2 million loan, with an interest rate of 0.25 of a percent for up to 12 months, today with VXI Global Solutions.
VXI already employs about 500 to 600 on the fourth floor of the city-owned 20 Federal Place building.
A $2.7 million expansion would be on the building’s fifth floor. A VXI official said the deal could be finalized in a few days.
Also today, council declined to purchase the long-closed Paramount Theatre on West Federal Street for $80,000.
The deal isn’t dead, but council members said they don’t see why the city should buy the building now and assume the liability of the dilapidated structure.
For the complete story, read Thursday’s Vindicator and Vindy.com