That old saying about the road to hell being paved with good intentions should be the epitaph for the Minority Venture Partnership, an unsuccessful program run by the defunct Philadelphia Commercial Development Corp. that failed miserably to deliver on its promise to create jobs. MVP was created in 1993 using $1.5 million in state money and $500,000 from PNC Bank. Gov. Robert Casey and Mayor Ed Rendell said another $8 million would be raised for the fund within a year, but that never happened. It took 10 years before the agency eventually made $1.25 million in loans, but it was repaid only $225,000. That dashed hopes of using repaid debts […]Continue Reading... No Comments.