Budget News, Press Release Harrisburg, PA – Governor Tom Wolf today announced he will monetize a major state asset to manage the state budget and ensure that payments can be made to schools, health and human services providers, and other governmental entities. As specified in the governor’s February budget, the commonwealth will begin accepting proposals to execute a lease-leaseback arrangement for the Pennsylvania Farm Show Complex & Expo Center. This arrangement would allow the commonwealth to retain control of the property, while also using its value to protect school districts and other entities that rely on funding from state government.“The failure to finalize and responsibly balance the budget means I must take action to make sure the Commonwealth can honor the commitments approved on June 30 by the General Assembly,” Governor Wolf said. “This further action will mean we can make our complete payments to local school districts and providers of human services, treatment programs, child care and other important services that Pennsylvanians rely on. Pennsylvanians, especially our kids and most vulnerable, should not bear the consequences of House Republicans’ inaction.“I continue to urge the House to pass a commonsense shale tax to address the structural deficit.”The commonwealth will retain ownership and control of the property. This plan will also continue the commonwealth’s commitment to the facility by dedicating additional funds to improve the property over the term of the agreement as the commonwealth continues to own and highlight the facility for Pennsylvanians and visitors from throughout the country.Under this arrangement, the commonwealth will lease the Farm Show to a private entity for 29 years for the fair market value of the property of approximately $200 million. At the same time, the private entity will lease back the facility to the commonwealth for the same term with annual rental payments based on a negotiated interest rate.The review process for proposals will involve multiple agencies, including the Department of Agriculture.This is the latest step by Governor Wolf to manage state finances and ensure the commonwealth can meet its commitments. This announcement follows his actions last Wednesday. SHARE Email Facebook Twitter October 09, 2017 Governor Wolf Announces More Action to Manage State Budget and Meet Commitments to Schools, Providers
BANGALORE, India (CMC):Superstar Chris Gayle failed with single digits for the third straight innings as Royal Challengers Bangalore’s (RCB) miserable form continued with a 19-run defeat to Kings XI Punjab in the Indian Premier League yesterday.Chasing a paltry 139 for victory at the M Chinnaswamy Stadium, RCB folded meekly for 119 off 19 overs to lose for the ninth time in 12 outings and remain bottom of the standings on five points.Opener Mandeep Singh stroked a top score of 46 from 40 deliveries while Pawan Negi chipped in with 21 from 23 deliveries, but no other batsman passed 10.The left-handed Gayle’s poor form continued when he was dismissed without scoring with the total on one off the fourth ball of the innings, edging a slash at seamer Sandeep Sharma (3-22) to point.Gayle has now managed scores of seven, eight and zero in his last three innings and has garnered a mere 152 runs at an average of 21 this season, with one half-century.Earlier, Axel Patel smashed an unbeaten 38 off 17 deliveries to help rally Kings XI to 138 for seven off their 20 overs after they were sent in.