Top state legislators stand behind GTP
Thursday, January 31st, 2008
By Staff
Although it has been controversial in prior years among state legislators, the leaders of the N.C. House and Senate reaffirmed their commitment to the Global TransPark this week.
In an interview with The Free Press on Tuesday, House Speaker Joe Hackney, D-Orange, said he favored continued extensions of a repayment deadline on a $32 million state loan.
The Global TransPark Authority, a state body created to oversee GTP operations, received $25 million from the state Escheats Fund in 1994. With interest, it has grown to $32 million. The legislature pushed back the most recent deadline, October 2007, to October 2009, and Hackney said he expects the legislature will continue to extend it.
The TransPark would face bankruptcy if officials could not repay the loan. (more…)
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