Philly Economic Crisis: Has Sunoco EVER Paid Up?
Put on your time machine goggles friends, we’re taking the time machine back for a blast from the past, with ramifications for the future:Sunoco Welcome America! has failed to repay $1.8 million in city loans since 2002:
Each summer Philadelphia residents and visitors enjoy the dozens of free events that make up the Sunoco Welcome America! festival–from the spectacular fireworks on the Parkway to sequined Mummers parading down Market Street. But in reality, taxpayers have been footing a big portion of the $3 million price tag dangling from this annual star-spangled production.
That’s because since 2002 the Philadelphia Commerce Department has extended “bridge loans” to Sunoco Welcome America! totaling $1.8 million. Each loan was made under the pretense that the festival organization–an independent nonprofit entity–would repay the funds as soon as a state grant and private sponsorship dollars were in hand, says Barbara Grant, spokesperson for Mayor Street.
Instead, not a dime has been returned to city coffers, and at this point, the Street administration no longer expects the festival to settle its debt.
Has Sunoco EVER paid those back taxes? That would pay for a LOT of pools. Maybe even a library.
I’ll add that I have special bit of outrage here: for the past two months I’ve been trying to get a relatively small loan to install a furnace. The bank has been giving me the runaround, and because of some back taxes I owed the state of New York (a lot less than $1,800,000, that’s for sure) I have to go through credit counseling before the loan can be approved. I wonder if anyone in Sunoco’s leadership has ever had to do that, given their delinquency.
If you haven’t already, it’s time to pay up Sunoco: your city is suffering, and you have a responsibility to fill. We’re all doing our part, and our families are losing their pools and libraries.
