Money Problems for Plaza Towers Long Before June Fire
By:
Updated: July 10, 2012
The Plaza Tower apartments had problems long before a fire ripped through a unit at the begging of June and displaced tenants for a week.
During a Pulaski County Public Facilities board meeting today it was announced the apartments had defaulted on a bank loan at the beginning of April.
The Facilities Board issues bonds on behalf of the county and today's meeting was simply a status update on the apartment's situation. Nothing was decided.
Kelly Conley with the board says "Essentially representing the county as the issuer for the bonds, just to understand what's going on. What the status is with obviously Plaza Towers being in technical default is a financial situation. "
The board was also briefed on a lawsuit against Valley Heights Apartment by the city of Little Rock. The complex being called a nuisance in that lawsuit. Nothing new happened with that.
