Nutter's Plan To Sell PGW Prompts Strong Response In City Council
By Mike Dunn
PHILADELPHIA (CBS) - One lawmaker this past week lashed out at a state agency which has given its thumbs-up to Mayor Nutter's plan to sell PGW.
Members of the board of PICA, the state agency that oversees Philadelphia's finances, voted on Tuesday to give its non-binding approval to the PGW sale, following a presentation by the Nutter Administration.
PICA will send a letter to Council voicing its support, but already one council member is livid. Marion Tasco -- in a speech on the floor of City Council -- slammed PICA for not doing its due diligence:
"PICA decided to approve the sale after reviewing a seven-page presentation from the Administration. Seven pages!"
Tasco, who has already said she personally opposes the sale, said in contrast, City Council has hired a consultant to probe the deal, including the 85-page purchase agreement:
"If responsible elected officials don't carefully examine all of the details of a transactions the citizens will get burned!"
Nutter wants to sell PGW to a private firm, "UIL," for nearly two-billion dollars, with about a quarter of the proceeds being invested into the struggling city workers pension fund.
Council's consultant will study both the winning bidder and the larger question of whether a sale should take place.
Council President Clarke has yet to schedule a hearing on the plan, and, in fact, the mayor's legislation for Council to approve the deal has not even found a sponsor on Council who's willing to introduce it.
The sale would also require approve of the state Public Utility Commission.
