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Vice Chairman Flescher wanted to know if 30 additional days would be long enough to <br />complete their negotiations. <br />Tex Carter, President and Chief Operating Officer of New Planet Energy, did not feel <br />that 30 days would be sufficient time due to "legalisms" and/or other situations that might arise. <br />He indicated that the details of the Joint Venture Agreement are the reason why the negotiations <br />have taken so much time, and that his staff would continue to report any anticipated delays. He <br />said that he would relocate to Indian River County when the construction phase begins. <br />Vice Chairman Flescher believed this program to be of "tremendous value" and wanted <br />assurance from Mr. Carter that 60 days would be ample time to finalize the agreement with <br />INEOS in lieu of 30 days. <br />MOTION WAS MADE by Vice Chairman Flescher, <br />SECONDED by Commissioner Solari, to approve sixty (60) <br />days additional time for New Planet Energy to finalize the <br />Joint Venture Agreement with INEOS Bio. <br />Michael McAllister, Attorney for Ameresco, provided a copy of the letter that was sent <br />to the Board on January 9, 2009 (copy on file). He emphasized that the deadline was established <br />for important reasons, and felt the result of a 60 -day delay would push the project back even <br />further, putting Ameresco in an awkward position as the number two bidder. He spoke about the <br />changing of the energy and financial markets, project financing, and the comparison of annual <br />revenue. He stressed Ameresco's financial and technical ability to start the job "now." <br />January 13, 2009 <br />S.W.D.D. <br />3 <br />