AIDEA tries to unload unwanted North Slope road on the state, claiming it’s as good as $13.9 million in cash

Imagine if a fast-talking salesman tried to pay a multi-million-dollar debt by offering to unload property he didn’t want anymore and claiming the asset is worth $13.9 million.

A con like that wouldn’t go far before the other party would demand that the salesman produce the cash.

But the Alaska Industrial Development and Export Authority is trying to pull something similar with its attempt to transfer an unwanted North Slope road to the state general fund and say it’s as good as $13.9 million in cash.

The 4.5-mile road is AIDEA property, connecting to an oil development that has been plagued with problems.

If AIDEA pays part of its debt to Alaskans with the road, it will have $13.9 million more to spend. And Alaskans will have a new road that is no longer AIDEA’s problem.

James Brooks of the Alaska Beacon has all the details of this shell game.

“In a sense, it’s asking for the approval of a credit . . . in the amount of $13.9 million,” according to salesman Randy Ruaro, the former Dunleavy chief of staff who is now AIDEA’s executive director.

In a real sense it’s not like that at all.

What we have here is one arm of government, AIDEA, trying to pay another arm of government, the Legislature, with real property that AIDEA doesn’t want anymore.

“Under state law, AIDEA is required to pay an annual dividend to the state treasury, but this year, the corporation’s board voted to pay that dividend partially in assets and partially in cash,” the Beacon reported.

AIDEA wants to keep $13.9 million more in its bank accounts to spend on whatever the unelected board of AIDEA thinks is in the state’s best interest, instead of allowing elected legislators to decide how to spend the money.

An offer this easy to refuse would never be made if the Legislature actually performed the oversight responsibilities of AIDEA that it has long neglected. There are no checks-and-balances when it comes to AIDEA operations, for which we can thank the Legislature.

The Legislature can begin to do its job by allowing AIDEA to keep the road and transfer $13.9 million in cash to the treasury.

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