| | Advanced Search


State Report: Marijuana Tax + Bill Targets Prostitutes and Pimps—Plus increased sentences for gang crimes

John Rooke - Thinking Out Loud—JR's column on the sports stories and personalities…

RI Beauty Insider: Pedi Nation – Get the Best Pedicure Ever—A guide to finding a pristine pedi place

Fit for Life: Fail to Plan? Plan to Fail—Plan and prioritize, and you will prevail

Arthur Schaper: Grand Theft Auto Cicilline—MINDSETTER Arthur Schaper examine's Cicilline's role in Prov's…

Five Live Music Musts – April 18, 2014—Great vibes await

Report: Preston Murphy Leaving URI for Boston College—Preston Murphy Leaves URI for Boston College

EXCLUSIVE: Bryant Tells Grads No Selfies with President at Grad—Prohibiting selfies?

PC Athletics gets high marks—Friar winter sports #1 among Big East schools...

NEW: Providence’s Al Forno Featured as a Best Pizza Spot in the US—Another accolade for Al Forno


Providence Loan Investigation: Top Stories in RI in 2012

Monday, December 31, 2012


What do a controversial night club, aformer campaign volunteer for David Cicilline and a man who was deported after serving time on drug charges have in common?

They all received—and failed to pay back— taxpayer-funded loans through the Providence Economic Development Partnership (PEDP).

GoLocalProv first reported on the PEDP’s extraordinary default rate in 2011, but the U.S. Department of Housing and Urban Development (HUD) took action this year, issuing a scathing report that questioned expenses and cited the city for lacking “adequate oversight” over the loan program between 2002 and last year.

Throughout 2012, GoLocalProv published more than a dozen stories on the dysfunctional agency, including being first to report that a former director misled HUD on the program’s actual default rate as well as the decision to write off 29 loans the city had little or no chance of ever collecting on.

The agency’s problems were also highlighted in Oklahoma Senator Tom Coburn’s annual Wastebook, which noted, “In Rhode Island’s capital city, taxpayer dollars have met anything but a providential fate.”

All new loans from PEDP are currently on hold and Mayor Angel Taveras has called for changes to the agency’s board, but the city has no plans of scrapping the program altogether. But with the Mayor’s eyes on the Governor’s office in 2014, you can expect him to pay much closer attention to decisions made by the PEDP in the coming year.


Related Articles


Enjoy this post? Share it with others.


jon paycheck

another ciccilini fiasco

and he is voting on the federal budget.. what a farce

i hope his supporters open their eyes

Commenting is not available in this channel entry.