Friday, October 31, 2008

EDITORIAL: Armstrong slaps down Penn Square Partners

An Oct. 31 Intelligencer Journal report carried the good news that the $3 million in additional state aid for the Convention Center will not be allowed to be split with the greedy Lancaster Newspapers and The High Group who are investors in the Marriott Hotel.

Among other one sided and predatory provisions in the contract between the Convention Center Authority (LCCCA) and Penn Square Partners (PSP) that then chairman Ted Darcus had rammed through despite objections from board members, there is a provision requiring the LCCCA share any additional state funds along with income from naming rights with PSP.

The rationale for such an arrangement is almost impossible to explain this side of the law. (NewsLanc has speculated that Darcus, an otherwise decent man, allowed himself to be used by PSP in return for the partners' financial support for the development of the Brightside Opportunity Center.)

Apparently Senator Gibson Armstrong does not want scorn heaped on him as he leaves the Senate and decided that 'enough is enough' when it comes to carrying the pail for High and the Lancaster Newspapers.

But of course Armstrong has scarred the community by directing ear-marked funds that were promised to the Lancaster Public Library and should have also supported other worthwhile projects to the misguided, inept, wrong headed and possibly corrupt Convention Center undertaking.

NewsLanc will be watching to see and report if there are any side deals to somehow compensate PSP for not receiving half of the state grant in accordance with its unconscionable arrangement with LCCCA under Darcus.