Welcome! Login | Register
 

Cicilline Helped Lead House Sit-In; Family Owns Building Tied to Repeated Violence—Congressman Helped Lead House Sit-In; Family Owns Building…

10 July 4 Parades & Firework Displays You Must See in RI—10 July 4 Parades & Firework Displays You…

RI ACLU Says Westerly Yacht Club’s Actions Violate “State’s Civil Rights Act & RI Laws”—RI ACLU Says Westerly Yacht Club's Actions Violate…

Online Voter Registration & Bridge Repair: This Year at the State House—Online Voter Registration & Bridge Repair: This Year…

Watch Hill, RI Gets Named Best Weekend Trip in Northeast by Business Insider—Watch Hill, RI Gets Named Best Weekend Trip…

Fit for Life: Habits - Out With the Old, in With the New—Fit for Life: Habits - Out With the…

Leonard Moorehead, the Urban Gardener: Midsummer’s Eve, Festivus—Leonard Moorehead, the Urban Gardener: Midsummer’s Eve, Festivus

Bruins Top Pick McAvoy Tweeted “I Hate The Bruins So Much” in 2013—Bruins Top Pick McAvoy Tweeted "I Hate The…

Since 1971: How Much a Home Would Have Cost You—Since 1971: How Much a Home Would Have…

The 5 Greatest “Farewell Tours” by MLB Hitters—The 5 Greatest "Farewell Tours" by MLB Hitters

 
 

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.

 

Enjoy this post? Share it with others.

 
 
:!