Financing For Pennsylvania Turnpike/I-95 Connector Concerns Auditor General

Map of Bucks County, Pennsylvania, United Stat...

Map of Bucks County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)

Pennsylvania Auditor General Eugene DePasquale said Friday that an unusual plan to finance construction of the I-95/Pennsylvania Turnpike connection “raises alarms” and may prompt an investigation by his office.

DePasquale said he was especially interested in why an entity was created to broker the deal, in which wealthy foreign investors would lend the turnpike $200 million in exchange for possible permanent residence in the United States.

DePasquale said his office was legally bound to wait until a transaction is completed before launching an audit, so “it may be several months or longer” before he formally investigates the turnpike plan.

“I am going to follow this situation carefully,” DePasquale said.  “It raises some alarms.  I’m not taking a position that it’s wrong yet. . . . We’ll wait till the issue is ripe for an audit.”

Read more at http://www.philly.com/philly/business/transportation/20130511_Financing_for_turnpike_I-95_connector_concerns_auditor_general.html#KbbfJ65OCH8owKzj.99

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