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O’Toole Hold Encap Hearings Now
By wmurrayO’Toole Hold Encap Hearings Now
Senator Kevin O’Toole, R- 40, called on Senate President Richard Codey to immediately convene hearings on the EnCap development of former landfill sites in the Meadowlands:
"The conclusions in the Inspector General’s report are beyond disturbing."
"It’s important that the facts come out, and I call again for Senate President Richard Codey to immediately convene hearings ofthe Senate Budget & Appropriations Committee on how taxpayer money was used to finance this project, as my colleagues and I have requested repeatedly in the past."
The Inspector General’s report says that its review "revealed significant misrepresentations of qualifications and financial support on behalf of the private entity contracted to perform remediation and redevelopment of the Meadowlands project."
Taxpayers stand to lose $51 million because the state backed $217 million in loans for the project without insisting that the developer provide proper collateral.
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