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Moore: Forget GE, RI Can’t Even Retain Teespring—Moore: Forget GE, RI Can't Even Retain Teespring

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NEW: Doherty Raps Cicilline Over Providence Loan Fund

Thursday, July 19, 2012

 

Republican Congressional candidate Brendan Doherty is taking Congressman David Cicilline to task for his role in a Providence loan fund that federal authorities say lacked “adequate oversight” during a ten-year period from July 2001 through last June.

“Rhode Islanders have been aware for some time that then-Mayor Cicilline failed the residents of the City of Providence and misled voters in an effort to get elected to higher office,” Doherty said. “The scandal surrounding the Providence Economic Development Partnership is another example of the Cicilline Administration’s fiscal mismanagement of the City of Providence.”

Last fall, GoLocalProv first reported that a quarter of all loans issued by the PEDP were at least 90 days past due, leaving the city with little hope of collecting millions it was owed. Last month, 29 loans were written off by the PEDP, leaving the city stuck with a $2 million tab.

UPDATE:

Cicilline spokesman Eric Hyers released the following statement:

"Brendan Doherty knows it is easier to throw around reckless and irresponsible allegations than it is to engage in an honest debate and defend the things he wants to do in Washington, like repeal health care reform, undermine women's reproductive rights, and support the Tea Party-backed Republican leadership that wants to keep tax breaks for companies that outsource American jobs, coddle big oil and end the guarantee of Medicare."

 

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