Thursday, June 14, 2007

Bordertown Pays Back Loan

Often cited as a case suggesting issues with New Mexico's loan and incentives programs, Bordertown is paid up -- and we'll finally see the work of lots of friends and family on screen.
From the Albuquerque Tribune / Wire Reports:

The production company behind "Bordertown," a movie starring Jennifer Lopez that was partially filmed in The Tribune's offices, has paid back a defaulted state loan with interest.

Mobius Entertainment/Bordertown Productions Inc. defaulted in March 2006 on $2.35 million borrowed from the state through the film investment program. Last week the company paid more than $2.6 million, including a 9.3 percent interest penalty.

The loan is the only one to have defaulted among 19 film and TV projects that the state has loaned nearly $176 million to during the past four years. About $25 million has been repaid, according to the State Investment Council.

"Bordertown" is set to be released in the United States in the fall. Directed by Gregory Nava, it aims to focus attention on the killing of hundreds of women around Juarez during the past 14 years.

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