Written by Instinct Staff | Wednesday, 10 March 2010
Tags: San francisco, california, lgbt community center, donate, call to action 
Updated Thursday:
The SF LGBT Center has issued a press release rebuking yesterday's piece in the SF Chronicle that claimed it had asked the city for a $1M bailout.
From the release:
We do have $3.2 million in outstanding debt related to the construction of the building, which has been carried in a loan with First Republic Bank. After almost a year of very difficult bargaining, we have achieved a loan modification that financially benefits the Center. This includes a reduction our interest rate, which will save $200,000 over the next five years, and a modification of principle payments to help cash flow. The bank is requiring that we create a reserve account, with a balance of $157,500 – reserves which we do not have. The City have been...
FULL STORY
