During his testimony at the September 19, 2005 Hearing on the Stay Order, Scott Welsh, Project Manager for Penn-Mar Ethanol LLC, answered questions about Penn-Mar's financing for their ethanol distillery now planned for Cumberland Valley Business Park, Franklin County posed by Fred Antoun, Attorney for Appellants (Citizens for a Quality Environment et al):

DIRECT EXAMINATION (of Scott Welsh)
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        BY MR. ANDERSON:
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Q    Now, with regard to the financing of the project, has that been received as yet?

A    No, it has not.
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CROSS EXAMINATION (of Scott Welsh)
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        BY MR. ANTOUN:

Q      Why did your financing on this similar or same project for Conoy Township, Lancaster Township, go away?"
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        THE WITNESS:   Our financing at that site did not go away.

        BY MR. ANTOUN:

Q     So you never had financing there, either?

A     That is correct. We were still in the approval process there as well. So, basically, --

Q     So how long have you been working on this project without the eighty-five million dollars you need to do it?

A     The total would be about three years and a couple of months"
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Q     Okay. Have you ever in the past three years received either a conditional or a contingent or a non-contingent financing offer from any financial institution or lender of any kind?

A     Not for the entire project.

Q    Okay. Have you received offers for part of the project?

A    I would say that we have not received formal offers. We have received indications of interest…."

From the EXCERPTS OF TRANSCRIPT OF PROCEEDINGS TESTIMONY OF SCOTT WELSH  (Click here for a PDF of the Excerpt)

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