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COMING MONDAY: The Tangled Web of ProvPort’s Managers and Their Role in the Wyatt Detention Center

Sunday, June 19, 2016

 

Is this the same deal being played out in 2016? A GoLocal investigation looks at the last minute budget article for $20 million for land acquisition for ProvPort. Two of the key players of ProvPort are the same architects that have ties to the financial failure of the Wyatt Detention Center.

As GoLocal first reported on Thursday:

ProvPort, the non-profit operator of the Port of Providence who is seeking a $20 million taxpayer bond, paid management fees to a sister for-profit company of more than $11 million over the three most recently reported years. The $11 million is approximately half on ProvPort's total revenue.

The last minute amendment to bolster the land holdings of ProvPort in Rhode Island's Fiscal Year 2017 budget was adopted into Article 5 of the budget 59-12 on Wednesday. The budget passed on Wednesday night by a vote of 59-13. 

According to IRS documents, ProvPort paid management fees of $3.731 million in 2012, $3.631 million in 2013, and $3.655 million in 2014 — totaling $11,017 million in total management fees to the for-profit company. These are the most recent tax documents available. 

In addition, ProvPort spokesperson Bill Fischer did confirm that the non-profit ProvPort only has one employee — Bill Brody, its legal counsel. According to IRS forms, Brody earned compensation of $225,000 as staff attorney.

Read More on Monday

 

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