Bringing to the fore a seldom-used and unique alternative to the municipal financing approach for the construction of arenas and convention centers, Texas-based holding company Citizens Capital Corp. said last week that it will be issuing commercial mortgage-backed securities next year to fund the development of a mixed-use hotel/ golf resort and arena convention complex in San Antonio.

By utilizing a corporate and real estate financing approach for the endeavor, as opposed to the typical municipal route, the company hopes to benefit in several ways, including the ability to bypass the need to have the proposition voted on by members of the local, state or city taxing jurisdiction.

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