After Ann Arbor approved a summary plan for the Packard Square Georgetown Mall fix, I asked a local merchant what odds he'd give for it coming to fruition. His answer: zero, since the owner has no money. Apparently, he leveraged the damn place to the hilt, back in the pre-crash days.
Surprise, surprise, the owner went to the county (another entity with no money) for help, and "...several commissioners raised questions about whether the county should back a $1 million state loan." I bet they did.
The brief story in aa.com is here.
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