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NEW: PEDP Confirms - Former Cicilline Volunteer Did Not Repay Loan

Monday, September 17, 2012

 

A former campaign volunteer for Congressman David Cicilline during his 2002 Mayoral campaign did not repay a $103,000 loan from the Providence Economic Development Partnership (PEDP), the agency’s legal counsel said Monday.

A story that ran in Sunday’s Providence Journal suggested that Erasmo Ramirez, a 66-year-old member of the District 10 State Rep. committee, repaid a loan he received to open a restaurant by selling a second property (located at 529 Union Ave) that was listed as collateral.

In actuality, a title company missed the mortgage that the PEDP had on the second property and insurance ended up covering the debt owed by Ramirez, according to John Garrahy, a lawyer at Moses Afonso Ryan LTD, the PEDP’s legal counsel.

The PEDP received $96,016.74 from the title company’s insurance and agreed to write off what was left of the loan, which included late fees and other penalties

GoLocalProv first reported on Ramirez’s loan last month.

The PEDP awarded a $103,660 loan to Ramirez for El Portal Family Restaurant, which would lose its operation certificate less than a year later. Ramirez would then request four separate payment moratoriums between 2004 and 2006 before defaulting on the loan.

 

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Comments:

So much for the Journal's Politifact "investigation"-they are revealing themselves as mouthpieces for Cicilline yet again.

Comment #1 by Joseph Bernstein on 2012 09 17

Appreciate GoLocal clarifying another ProJo mistake. I believe you guys also explained the loan was repaid by title insurance in a previous article. More sloppy reporting by ProJo. Glad I cancelled my subscription.

Comment #2 by Harold Stassen on 2012 09 17

Dan McGowan is simply killing it with this PEDP thing.

Comment #3 by Dan Wilson on 2012 09 17

Dan, I must say, maybe we read you wrong. Up until now, we had always viewed Ciciline's relationship with Jason as clouding the journalistic integrity of GoLocal. Good to see that cleared up for now.

Comment #4 by David Allen on 2012 09 17

Rumor has it that all ProJo employees have David Cicilline bumper stickers on their cars.

Comment #5 by Scott Dickerson on 2012 09 17

All the ProJo reporters are in David's pocket. Or is David in their pocket?

Eric the videographer probably has videos of them in compromising positions.

Comment #6 by Joseph Davis on 2012 09 17

So does Dr. Fadul on youtube.com. I suggest running a search on youtube that includes Fadul and Cicilline.

Comment #7 by David Allen on 2012 09 18

Mr Bernstein,

Have you visited YouTube lately ?

Search: Cicilline Dr Ernesto Fadul for 2 interesting videos.

Comment #8 by marylou sexton on 2012 09 19




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