NC Senator Kay Hagan's family made a nice profit on the Stimulus

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JDC Manufacturing, a company co-owned by Democratic U.S. Sen. Kay Hagan’s husband Charles “Chip” Hagan, lowered the total cost of a 2010 stimulus-funded energy project but kept all of the savings, sending none back to taxpayers who had funded the stimulus grant.

The company’s original application stated the total project would cost $438,627, and said JDC would contribute “leveraged funds” amounting to $187,983, or 43 percent of the total. As the project reached completion, however, JDC revised the total budget downward by $114,519 and applied all the savings to its share, keeping all the taxpayer funding.

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In August 2010 JDC, owned by Chip and his brothers John and David, sought a $250,644 federal stimulus grant to replace light fixtures and gas furnaces and install rooftop solar panels at a 300,000-square-foot building it owns in Reidsville.

The occupant of the building is Plastic Revolutions, a recycling company also owned by the Hagan family. In the grant application, JDC claimed that the building’s lighting and heating systems were outdated and that current energy costs “have prevented the tenant from growing their business as desired due to the energy operating costs.”

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By reducing its spending on the project by $114,519, JDC contributed only $73,464 — or 23 percent of the total project cost, instead of the 43 percent contribution it offered in the original grant application. Though the cost of the project dropped, CDC still received the entire $250,644 in federal grant money.

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