Credit crisis hits South Bend, bond stalls convention center project

By JAMIE LOO, South Bend Tribune Staff Writer

jloo@sbtinfo.com

SOUTH BEND - The financial crisis on Wall Street already has affected one local project and could mean higher interest rates for local governments in the future.

Maintenance work at Century Center is on hold because the bond that was going to cover part of the cost wasn't issued before the financial sector began having problems at the end of September. The municipal bond market was frozen, just like all other lending.