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The statewide network planned for Rhode Island didn’t receive the loan needed to get efforts started: The General Assembly did not approve a $28.5m loan needed by the Economic Development Corporation to build the project out. This was a loan guarantee, but the state would be on the hook. The EDC is looking at other options, as well as working with the assembly to jigger the deal. It’s possible private firms might help finance the project, or that a nonprofit could be formed to work on financing separately from the state.
Posted by Glennf at June 28, 2007 9:12 AM
Categories: Financial, Municipal
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