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the Project a success. He agreed with Commissioner Wheeler that if contractual protections <br />were put into place, Phase I would pose minimal risk to the County. <br />Commissioners Wheeler and O'Bryan concurred that they were ready to move forward <br />with Phase I of the Project. <br />David King, Managing Director of INPB, 4107 Deltawood Court, Houston, Texas, <br />introduced his colleagues, Ray Crabbs and Tex Carter of New Plant Energy, and Dan Cummings <br />of INEOS BIO, of which INPB is a subsidiary. Mr. King provided an update on some of INPB's <br />funding sources, and outlined the objectives for Phase I and Phase II of the Project, with the <br />anticipated completion of Phase II in 2013, at which time the plant would be capable of <br />processing 50 million gallons of waste to produce roughly 9-10 megawatts of power. Mr. King <br />discussed the benefits to the County of proceeding with Phase I, and acknowledged the <br />importance of providing the Commission and staff with a comfort level regarding INPB's <br />financial soundness, while at the same time, allowing INPB to protect its financial information <br />and business plan. He felt that one way to achieve the latter objective would be to have INPB <br />proceed as an Economic Development Project. <br />Director Brown acknowledged that INPB had indicated a willingness to share its <br />financial information, if confidentiality could be maintained. He reiterated the importance for <br />staff to review the financial statements, and felt that it would be advantageous to have INPB 's <br />Project fall under Economic Development, wherein its information could be held confidential. <br />Responding to Commissioner Wheeler's query, Director Olson acknowledged that if <br />Phase I of the Project failed, the County would lose very little. <br />6 <br />March 24, 2009 <br />S.W.D.D. <br />