Providence Mayor Angel Taveras is supporting the General Assembly’s inclusion of money to pay back bondholders who invested in failed video game maker 38 Studios. The legislative budget includes two and a half million dollars for the bondholders.
Congressman David Cicilline is calling this a good day for equality, reacting to news of the U.S. Supreme Court’s decision striking down a provision of a federal law denying federal benefits to married gay couples.
“No longer will people be discriminated against because of who they love,” said Cicilline, “and all marriages will be respected and people will be treated equally under the law. That’s a great victory.”
As tonight’s budget debate in the R.I. House creaks along, some sharp-eyed lawmakers should be asking some hard questions about the item for a capital budget request of more than $3 million to purchase a vacant lot near the State House wedged between the Veterans Memorial Auditorium and the state employee credit union building. . The provision was put in by Gov. Lincoln Chafee’s administration and originally proposed paying $3.5 million for the land, according to fiscal analysis done by House financial staffers.
Will Rhode Island ever get beyond the shadow of the 38 Studios-Curt Schilling disaster. RIPR political analyst Scott MacKay on why state government so far has not developed options for putting this behind us.
President John F. Kennedy said famously that ``life is unfair.’’ Some men,’’ he noted, ‘’are killed in a war, some men are wounded and some men never leave the country.’’
The Republican leader in the Rhode Island House of Representatives is urging lawmakers to reject calls to pay back bonds for failed video game company 38 Studios. Other state officials say a failure to pay back the bonds will hurt the state.
House Minority Leader Brian Newberry says the 6 Republicans in the House will unanimously oppose any effort to repay the 38 Studios bonds. He said legislative Democrats are rushing to judgment on the issue without having done their homework.
Although investors in 38 Studios were promised prior to the closing of a $75 million state loan guaranty in 2010 that IBM would offer independent third-party monitoring of the company and its performance, IBM didn't sign a contract to provide that monitoring and independent oversight was never put in place, according to testimony presented last week to a legislative committee.
The owner of the vacant Industrial Trust Building -- aka the Superman Building -- submitted a bid in response to a state RFP for 70,000 to 80,000 square feet of office space.
Bill Fischer, a spokesman for High Rock Development, says the bid was submitted in time for a June 3 deadline. "We wanted to keep any and all options open," Fischer says. "We did respond," even though High Rock continues to believe that a residential conversion offers the best future for the historic structure.