Rhode Island governor Lincoln Chafee (who recently joined the Democratic party) is considering the consequences of his state not paying back the lenders who financed 38 Studios. They are currently maintaining the position that the state must pay the debts back.
Chafee spokeswoman Christine Hunsinger says that the governor’s position has not changed, but that “doesn’t mean you don’t analyze what the situation is, or gather data to understand the ramifications of what that decision would be.” She also noted the state has been gathering the relevant information for several months.
The current plan would have Rhode Island paying an initial $2.5-million payment, followed by $12.5 million each of the following seven years. The state is currently on the hook to pay roughly $112.6 million ($75 million for the initial borrowing and $37.6 million in interest) over 10 years.