Tasco urges no rush to decide on $1.9B PGW sale

Posted: May 24, 2014

A critic of Mayor Nutter's proposed sale of Philadelphia Gas Works for $1.86 billion to UIL Holdings Corp. on Thursday urged City Council not to rush into a decision.

Councilwoman Marian B. Tasco's call for restraint came after the Committee of Seventy on Monday pressured Council to schedule a public hearing on the issue and the Pennsylvania Intergovernmental Cooperation Authority on Tuesday endorsed the sale.

Council is currently awaiting a consultant's report on the proposed sale. UIL can back out of the deal if council does not take action by July 15.

"Council is proceeding toward a decision with all deliberate speed," Tasco said in a statement at the end of Thursday's meeting. "But we should not cut corners in the process to satisfy a deadline which was unilaterally set by the administration."

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