HARRISBURG, Pa. - Gov. Tom Wolf announced Monday the commonwealth will begin to accept proposals to execute a lease-leaseback arrangement for the Pennsylvania Farm Show Complex & Expo Center.
This move will allow the Wolf administration to manage the state budget and ensure payments can be made to schools, health and human services providers, and other additional government entities.
According to the governor's office, the arrangement allows Pennsylvania to retain control of the complex's property and use its value to protect entities that rely on funding from the state government.
Under the lease-leaseback arrangement, the commonwealth will lease the Farm Show to a private entity for 29 years "for the fair market value of the property of approximately $200 million." Simultaneously, the private entity will lease back the facility to the commonwealth "for the same term with annual rental payments based on a negotiated interest rate."
In other news, Gov. Wolf called on the legislature to pass a law that will require employers to cover contraceptives at no cost to consumers as a preventive service.
“This decision by the Trump Administration to take women’s birth control decisions out of their hands and put them into the hands of their employers is wrong,” Gov. Wolf said. “This ill-thought-out decision hurts all women, and even worse, this contraceptive restriction disproportionately affects low-income women who may now not be able to afford this important medication. I am calling on Pennsylvania’s legislature to fix this.”
Allentown, PA 18102