Fasano Demands More Oversight of All State Quasi-Publics Following CRDA Audit

CRDA spent $4 million in state borrowing on Dillon Stadium before required agreement existed.

Senate Republican Leader Len Fasano (R-North Haven) released the following statement in response to the State Auditors’ Report on the Capital Region Development Authority (CRDA) released today. The audit found that CRDA spent over $4 million of bond funds for the construction of Dillon Stadium prior to the City of Hartford entering into an agreement with a professional sports team. These taxpayer-backed funds were not supposed to be spent until an agreement was reached, as required by the State Bond Commission.

“This disturbing finding is yet another example of the audacity of a quasi-public that feels it is beholden to no one. For years, the state’s quasi-publics have been allowed to operate with little accountability. We have seen problems ranging from small issues, to huge breaches of public trust. The common denominator in all these cases is a lack of oversight. CRDA’s dangerously risky spending and disregard for the State Bond Commission is just the latest development in a long line of problems,” said Fasano.

Sen. Fasano pointed to questionable actions by the Connecticut Lottery Corporation, Connecticut Port Authority, and Connecticut Green Bank that have come to light in recent weeks.

“Until the state is able to thoroughly investigate and establish a better structure to manage these agencies, we need more oversight by the executive branch when it comes to any and all major decisions,” Fasano added. “All state quasi-publics should be restricted to performing only the most necessary core operations. Any decisions regarding hiring, entering into contracts, and spending large amounts of money must be limited and the executive branch should be involved in such decision making at this time.

“Republicans have tried to enact proactive reforms to strengthen state oversight. Clearly, without these reforms far too many quasi-publics have spiraled out of control. I remain hopeful that Governor Lamont and I are in agreement on the severity of this issue and Connecticut will finally see the changes we need to hold these organizations accountable.”