BALTIMORE - Ground has been broken for a new clubhouse at the Baltimore Municipal Golf Corp.’s Forest Park Golf Course after MECU helped to bring parties together and put together a lending deal. BMGC had been approved for grants from both the State of Maryland and Baltimore City for $1.1 million, but the project costs were $2.5 million, and loan collateral became an issue as the physical facilities are owned by Baltimore City. The CU worked with Baltimore City Board of Estimates on a loan guarantee, and MECU was able to underwrite a $1.5 million construction permanent loan at a very attractive rate.
Processing Content
