CARDINALE CALLS FOR IMMEDIATE HEARINGS ON ENCAP FIASCO

By wmurray

CARDINALE CALLS FOR IMMEDIATE HEARINGS ON ENCAP FIASCO

Taxpayers On The Hook For $51 Million Environmental Disaster.

Senator Gerald Cardinale, R-Bergen, today called on Senate Budget and Appropriations Committee to hold immediate hearings on the financial and environmentally troubled Encap project. Cardinale wants to know why New Jersey officials provided a politically connected developer with $300 million in public money to build a golf course and condominiums on sealed landfills despite warnings that the developer lacked the financial, managerial and technical resources to complete the project.

“It is disturbing that my colleagues in the Legislature are unwilling to convene any hearings on the Encap debacle until after the November 6 general election,” Cardinale stated. “The taxpayers must have all of the facts on this ill-advised project before the election so that they can make an informed choice.”

Cardinale’s request for hearings comes on the heels of The Record reporting that taxpayers may be stuck with a $51 million debt because New Jersey loaned Cherokee Investment Partners $212 million without sufficient collateral or financial guarantees.

“It is further disturbing that in addition to their refusal to hold hearing on the EnCap disaster the Corzine administration has been unwilling to explain any of the details of the ill-advised scheme to sell off our toll roads. I wonder what else they want to put off until after the election, perhaps massive tax increases. It is time the Trenton Democrats came clean and started being honest with the people of New Jersey.”

WMURRAY can be reached via email at WMurray@njleg.org.

Related topics: Cardinale, EnCap, Investigation

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