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03/24/2009 (4)
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03/24/2009 (4)
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Last modified
1/14/2020 12:17:48 PM
Creation date
10/1/2015 6:22:12 PM
Metadata
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Meetings
Meeting Type
SWDD
Document Type
Minutes
Meeting Date
03/24/2009
Meeting Body
Board of County Commissioners
Archived Roll/Disk#
4026
Book and Page
137, 145-152
Supplemental fields
SmeadsoftID
7351
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Director Olson acknowledged that INPB would be achieving a financial history, but <br />observed that at this juncture, there was no basis to determine the company's financial capability <br />to acquire the plant and proceed to Phase I. <br />Further discussion ensued as Board members weighed the County's risk for Phase I of the <br />Project. <br />County Budget Director Jason Brown observed that INPB would want the County's <br />commitment to both Phases of the Project, and he was concerned about moving forward without <br />certain financial information. <br />Vice Chairman Flescher asked if Director Brown was comfortable proceeding with Phase <br />I. <br />Director Brown reiterated that staff was unable to make a determination on INPB's <br />financial capacity, because, as a privately held company, the Company had been unable to share <br />its financial information. He advised that, if staff could review INPB's financial data, and if <br />performance benchmarks were included in the Contract, it might be possible to move forward. <br />Commissioner Wheeler discussed the advantages of proceeding with Phase I. He <br />suggested that the contract with INPB be divided into Phase I and Phase II, and observed that <br />certain criteria could be established and would have to be met, before the County would be ready <br />to proceed to Phase II. <br />Director Olson acknowledged that Phase II was the most dangerous step; however, he <br />reiterated that staff could not advise the Board that INPB was financially in a position to make <br />5 <br />March 24, 2009 <br />S.W.D.D. <br />
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