Gainesville Leaders Wait to Make Offer on Biomass Plant
Published September 6th, 2013
GAINESVILLE- The majority of City Commissioners voted last night to hold off on making a purchase offer on the new biomass plant until GRU staff can research financial options.
Toward the end of August Gainesville Renewable Energy dismissed arbitration counterclaims totaling 50 million dollars against the city.
After the announcement GREC also stated their intent to sell ownership of the biomass plant which according to contract puts Gainesville at the front of the line of potential buyers.
GREC offered the city 1 and half million dollars to give up that right, a figure they claim should cover the legal fees of the arbitration case.
But commissioners say that number doesn't stack up with the potential value of the plant.
Gainesville City Commissioner, Yvonne Hinson-Rawls says, "I would like to know exactly what other values exist between that 1.5 and actually owning the plant, what kind of money are we talking about in between there? 1.5 may be like a nickel to one of us."
Commissioners have instructed GRU to analyze potential offer numbers.
GREC and the city have 60 days to negotiate the offer.
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