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N1111... Attorney May wanted certainty, and proposed that the Town agree with the abeyance of lawsuit for two months, until Monday, March 2, 2015. He asked the City to pursue all options to reduce electric rates, and provide the Town with an outline of their efforts prior to March 2, 2015. Attorney Wright stated the City agreed to no tortious interference and would sign a letter to that effect. Attorney May inquired whether the City could get the agreement in place by January 1, 2015. A discussion ensued regarding FMPA and due to the upcoming holiday season the parties agreed to January 8, 2015. A discussion ensued on the status update requested by the Town and it was determined Attorney Wright would get the update to the parties by February 18, 2015; the mediator would call the impasse if no agreement was reached by March 2, 2015. Attorney May agreed to write the draft Interim Mediation Agreement. Mediator Alvarez asked if the County would delay their meeting with the PSC on February 3, 2015, regarding its Petition for Declaratory Statement. Attorney Reingold was not comfortable telling the Indian River County Board of Commissioners there was a deferral of a month of their PSC Petition hearing. He was set to go forward with the February 3, 2015 meeting. Mr. Peter Gorry, a volunteer on the Finance Commission for the City of Vero Beach, spoke on the City's contract in place with FPL until the end of the year 2016, and noted that rates were set by PSC. He touched on dividends, ROI, the difference between rates and bills, and bond ratings. Mr. Charlie Wilson, President of the Vero Beach Chamber of Commerce, mentioned the City had been promising its residents lower electric rates than FPL for the last 36 years for a cost of $20 million a year, so the cost of litigation does not even come close to the funds spent on a yearly basis. He mentioned the only means of solving the utility issue was either an agreement from FMPA (of which he felt would never happen), so legislation and litigation have replaced negotiations as the only two means of solving the electric utility issue. Mr. Mark Mucher, City of Vero Beach resident, was concerned about the long-term risk of the City being in the electric business. He referred to the Utility Authority and argued that representation was a "feel good" thing, but would not make a difference in terms of the decisions made or the rates paid. Mediator Alvarez concluded that Attorney Wright would write a letter of Waivers and Consents by the City and FPL, and asked Attorney May to draft an Interim Mediation Agreement by Friday, December 19, 2014. He thanked all parties for handling this difficult situation in a cooperative and collaborative fashion. Town of Indian River Shores - City of Vero Beach - Indian River County Electric Utilities Mediation December 17, 2014 Page 11