Neither a 2 percent hike in Social Security payroll taxes that took effect in January, nor delayed federal income tax returns this year appeared to blunt borrowers' ability to manage their debt.
So, having elected to go the company, corporate, route Livingstone faced the choice of, having delayed that income recognition for his own personal tax purposes (it would have been taxed at the lower rate of corporation tax though) he has a choice as to how to extract that income from the company.
Kilroy already is prepared to finance construction projects, while developers who need projects approved can sometimes be delayed by lenders who remain leery of construction projects that don't yet have a definite income stream.