The nations green-building industry is awaiting billions of dollars in economic-stimulus funding earmarked to make government buildings more energy efficient. But based on the slow pace of allocations thus far, it could take months or years for spending to trickle down to contractors. The General Services Administration, which oversees the federal governments property, was allocated USD 5.5 billion as part of the American Recovery and Reinvestment Act passed by Congress in February, of which USD 2 billion should be allocated before Dec. 31. The initiative is designed to create jobs and to pioneer cutting-edge technology in construction that is environmentally friendly. Detail Here

A U.S. Bankruptcy Court judge approved mall owner General Growth Properties Inc.s plans to restructure USD10.25 billion of mortgages, clearing the way for the 103 properties covered by those loans, including 85 malls, to exit bankruptcy protection by the end of this month. Judge Allan Groper also scheduled a hearing for Friday in which he will consider approving the restructuring of another USD1.75 billion in mortgages covering another 10 General Growth malls. That would leave General Growth with roughly USD 3 billion in secured debt and USD7 billion in unsecured debt remaining to be restructured. Detail Here