"There were members in that room that were aware of the Schilling proposal and the reasons why the loan guarantee bill went from $50 million to $125 million - the rank and file, myself - we were not aware of it," Watson stated.
Watson is asking questions about the size of the 38 Studios loan guarantee. Target 12 has found out that the Economic Development Corporation has provided two other loan guarantees under the same program ; one for $1.5 million to
NuLabel Technologies in Providence and another for $4 million to The Corporate Market Place in North Kingstown.
"Most rank and file members anticipated there would be smaller loan guarantees and nothing of the magnitude of the $75 million."
Watson wants to know why it was all so rushed.
"It was too fast, too loose, and a scandal waiting to happen with sketchy details and very little oversight being spelled out."
Target 12 reached out to
EDC board members to ask why one company would qualify to get 60 percent of the money available, but so far, no one has commented.
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