PROVIDENCE, RI – House Speaker Gordon Fox says lawmakers refused to give Central Falls financial help because the city lacked a plan on how it would spend the money.
Central Falls receiver Robert Flanders asked the general assembly for millions of dollars to help fill budget gaps and keep it from falling into bankruptcy. But lawmakers refused to budget in the cash.
House Speaker Gordon Fox says that's because there was no plan on how Central Falls was going to solve its money problems.
"Leadership in the House could not feel that we could tell our members and request them to vote on giving whether it was $2 million this year or $6.9 million next year, when there was no plan backing it up," says Fox.
Flanders has said that Central Falls could be looking at bankruptcy by the end of this summer, which Fox says may be the only way to go.
"So maybe, and it's a harsh reality, but maybe if there's no plan, maybe bankruptcy court's the only way to go," says Fox.
Flanders has also warned that the Central Falls John Hancock police and fire pension could run out of money in October. He's holding a public meeting with those retirees Tuesday morning at Central Falls High School.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. email@example.com.