Goodbye, EnCap: Reactions from the Web
So now we ask: Who will pay to close the landfills? What is the status of the $300 million in public bonding and $51 million in direct loans EnCap got? The state can pursue a $149 million insurance policy the original EnCap developers obtained. Expect all of this to end up in court. Earlier, N.J. Inspector General Mary Jane Cooper issued a critical report on EnCap that conveniently didn’t mention what role government officials played in giving the project public loans. No realistic person would expect the Attorney General’s Office to have a clue, either.
From João-Pierre S. Ruth, blogging at NJBiz.com:
EnCap cannot clear the sand trap it landed in.
From Hackensack Riverkeeper Bill Sheehan, via the Record:
I’ve always been in this to stop the landfills from poisoning the river. I hope this doesn’t get bogged down in litigation to the point where the poisoning continues for another generation.
From North Arlington Mayor Peter Massa, via the Hudson Line Blog:
As we have known for some time, the dream of turning our backyard into a golf Mecca was only an illusion to entice taxpayers into accepting the plan. The reality, as we learned would be far more troublesome for our communities… It’s time the local officials and residents had a bigger say in what goes in our backyard.
From BC Bob, commenting on a Star-Ledger story posted to New Jersey Real Estate Report:
“New Jersey taxpayers stand to lose $51 million”
Just another day at the office.
From makingit, commenting on NJ.com’s Statehouse forum:
I guess we can be happy that most of the money was covered by security bonds, but about $50 Million paid to Encap by the NJDEP is not recoverable. How can the state allow taxpayer’s money to be given to a private company without some kind of insurance of job completion? Now, the Meadowlands Commission says it did not know that Encap did not have the expertise to do this type of environmental work. Well, “Hello”, shouldn’t they have investigated that before giving them millions of dollars?
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