December 05, 2011
The Town Toyota Center debt of $42
million is now in default, as Thursday’s payment deadline passed without a bailout loan from the state
legislature. There is widespread concern that default could have sweeping negative ramifications across the state.
Yet there is still some hope. It appears lawmakers could still pass a bill early this
week that would loan money to the Greater Wenatchee Area Public Facilities District to payoff the debt.
/> But is it too late for a bailout loan bill? To find out, Isaac Kaplan-Woolner called the
PFD’s attorney on Friday. Fraley said it appears bond holders are willing to wait a few more days to see
what lawmakers will do.