Saturday, June 17, 2017

Portland to foot SoloPower's bill after company defaults on $10 million loan

Via Billy

Portland is stuck paying $5 million on a loan that SoloPower Systems failed to pay after promising green jobs to the city.

A company once pursued for its promise of green jobs will cost the City of Portland $5 million after defaulting on a $10 million state loan.

Portland paid millions to lure SoloPower Systems to the city but will now have to pay much of the $8.1 million left on a state loan the company failed to pay. The Portland Business Journal reported Wednesday that the company defaulted on a $10 million loan from the Oregon Department of Energy.
It stopped making payments in September. Portland made two payments of $119,000 toward the loan in April and May, said Oregon Department of Energy spokeswoman Rachel Wray.

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6 comments:

  1. TewshoozJune 17, 2017 at 4:04 PM

    Ha ha ha.....couldn't happen to a nicer town. Stupid liberals.

    ReplyDelete
  2. BadgerJune 17, 2017 at 9:59 PM

    It seems the green in "green energy," is the money stolen from taxpayers.

    Badger

    ReplyDelete
  3. WeaverJune 18, 2017 at 10:19 PM

    I really like green stuff, but I'm a bit jaded by all the dishonesty.

    ReplyDelete
    Replies
    1. Brock TownsendJune 18, 2017 at 10:22 PM

      Dishonesty in the government? Oh my, bite your tongue..........:)

      Delete

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