Who really benefits from RGGI funds?

NH Business Review Staff,

To the editor:The May 18-31 issue of NHBR had an article by Rick Minard (“At least keep the RGGI safety net”) as how RGGI funds benefit low-income New Hampshire homeowners. According to the article, about 10 percent of RGGI funds benefits low-income homeowners.One wonders where the other 90 percent goes and who benefits. I don’t know the complete answer to that question, but I do know that $470,000 of RGGI money went to Fraser NH LLC in Gorham for improvements in boiler efficiency. Problem is, upon receipt of that money, Fraser promptly went bankrupt, as did their Canadian parent.In their ultimate wisdom, the agency responsible for the loan did not have a clawback provision, so the money is gone forever. Interestingly, the reason the state loaned Fraser the money is because no New Hampshire bank would touch them. That has to tell you something.That $470,000 would insulate a lot of low-income homes.Donald BradleyRye

Categories: Cook on Concord, Opinion

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