NewsLanc.Com
Providing Greater Lancaster with an Alternative Source
for Local News and Commentary
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September 26, 2006 NewsLanc.Com,
LLC, Publisher Volume 1, Number 7
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Write a letter, make a call: Edward G. Rendell, Governor 225 Main Capitol Building Harrisburg PA 17120 (717) 787-2500 E-mail the Governor here. Gibson Armstrong, State Senator (717) 787-6535 [email protected] Mike Sturla, State Representative (717) 295-3157 [email protected] J. Richard Gray, Mayor, City of Lancaster (717) 291-4701 [email protected] Ernest Schreiber, Editor Lancaster New Era [email protected] (717) 291-8733 C. Ray Shaw, Editor Intelligencer Journal [email protected] (717) 291-8650 Marvin Adams, Editor Sunday News [email protected] (717) 291-8788 |
Sunday News' Deceptive "Museum Picks Up Steam" Rivals Intell's "Center Closes Fund Gap" ___________________________________________ Sunday News said: "Museum Picks Up Steam" - Sept. 24, 2006 They Should Have Said: "Sponsors Renege on Demolition Promise." Sunday News said: "We are satisfied that the provisions we put forth in the agreement have been met," quoting Rita Byrne, Board President of the Historic Preservation Trust. They Should Have Said: "The Trust relinquished its right to require the securing of final governmental approvals and adequate funding before demolition takes place." Sunday News said: "In August, Mayor Rick Gray announced developers and officials had come up with money to meet the budget overruns..." They Should Have Said: "In August, Mayor Rick Gray announced that the sponsors and officials had come up WITH A PLAN to meet the [$20 million] budget overruns...." Intell said: "Center Closes Fund Gap" - Aug. 11, 2006 They Should Have Said: "Sponsors HOPE to close fund gap, but haven't identified how." Intell said: "There is a $20 million funding gap" - Sept. 24, 2006 They Should Have Said: "There is a $28 million funding gap because we left out the standard allowance for contingencies." NewsLanc.Com says: If Lancaster Newspapers was not a monopoly with a 44 percent ownership interest in the project, the Sunday News would report: "The Convention Center/Hotel sponsors have found perhaps $2.5 million toward a remaining $25.5 million deficit. Nevertheless, demolition will proceed." |
$64,677,840
Principal borrowed: $14,000,000 Term: 40 years Total
Annual interest rate: 6.50%
Total Principal and Interest Paid:
$39,342,696
$144,983,736