Gasline agency has enough cash to continue a few years

click on the photo to read the full story

The Alaska Gasline Development Corporation has $20 million left in its funded account, enough to continue at its current level of activity for several years.

Last year, the agency laid off several members of the staff to conserve funds and curtail the rampant spending that occurred under the reign of Gov. Bill Walker, who had taken over the project when he became governor in 2014, and had developed it in such a way that the private sector stepped out of it.

The agency, now operating with a more modest ambition, is asking the Legislature for “receipt authority” for $20 million more in Fiscal Year 2021, so that it can continue to solicit investors. Receipt authority is not an appropriation but the permission to bring in investment money.

Sponsored Content

Sponsored Content