The City County Observer has confirmed that Earthcare Energy has made another interest only payment of roughly $380 to remain current according to the terms of the $200,000 loan that was made by the City of Evansville to Earthcare at the beginning of March.
This loan was not brought before the Evansville City Council for approval and was made from federally sourced loan funds managed through the Department of Metropolitan Development. It was approved in a sparsely attended meeting of a politically appointed board that included GAGE president Debbie Dewey who was also in charge of vetting the project.
The Winnecke Administration after considering all information that was made available after this loan was funded and an additional $4.8 Million loan was approved in a contentious 5 – 4 vote by the City Council, decided to abort the deal on the grounds that a DOE loan guarantee had not been secured and that an exclusive license had not been secured to the Langson Energy intellectual property that was to be commercialized by Earthcare in the old Whirlpool building. Private vetting efforts revealed that no patent had been issued for this device.
Wonder if the Mayor and his buggy Debbie Dewey will loan me 3 million to help me with my rabbit breeding farm?
Has the Federal agency that made the grant asked for its funds back yet? If not, why not?
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With the leadership we have in the White House why would anyone bother to ask that question? Obama is nothing more than Wienie-Zapple from sea to shining sea.
The people who loan Earthcare money are complete idiots!
I think Evansville is prime for some independent candidates.
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