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Case
| HBS Case Collection
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2003
(Revised from original 2002 version)
MAC Development Corporation
by
Richard G. Hamermesh and Colleen McCaffrey
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Abstract
Deals with MAC Development's efforts to develop a 41-acre site near Chicago. Reviews two years of efforts and highlights the remaining issues of: 1) gaining town approval for development and tax reductions, 2) meeting the bank's debt covenants, including finding a buyer for the first lot, and 3) agreeing on a final purchase price with the seller. Includes color exhibits.
Keywords: Risk Management;
Taxation;
Financial Instruments;
Borrowing and Debt;
Asset Pricing;
Construction Industry;
Chicago;
Citation:
Hamermesh, Richard G., and Colleen McCaffrey. "MAC Development Corporation." Harvard Business School Case 802-140, June 2003. (Revised from original March 2002 version.)