Exclusive: Documents reveal how RI rushed on 38 Studios deal
November 20th, 2012 at 9:50 pm by Ted Nesi under Nesi's Notes
By Ted Nesi and Tim White
PROVIDENCE, R.I. (WPRI) – Rhode Island officials say they did extensive due diligence before awarding a $75 million taxpayer-guaranteed loan to Curt Schilling’s doomed video game company, but documents obtained by Target 12 suggest the process was rushed and shortcuts were taken.
Officials began drafting the terms of the 38 Studios deal as early as March 26, 2010, more than two months before state lawmakers even created the new $125 million loan-guarantee program that was used to lure Schilling’s company to Rhode Island in July, according to more than 2,500 pages of emails, financial documents and internal memos the EDC provided in response to Target 12′s public records request.
Read the rest of this story »
Tags: 38 studios, riedc, target 12
Nesi's Notes covers politics and the economy in and around Rhode Island for WPRI.com. (Twitter: 
Why hasn’t Gary Sasse come forward with what he knows about this fiasco.