01/23/2024 (2) - Laserfiche WebLink

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Board of County Commissioners Meeting Minutes - Final January 23, 2024 and staff discussed the offset costs, as well as the financial and environmental gains for the County. Representatives from the NED appeared before the Board to expound on the evolution of the project and answer questions regarding the financing of the Renewable Natural Gas (RNG) production plant. During this discussion, it was revealed the contract between NED and Symbiont (the plant's engineering firm) was fully bonded; Attorney DeBraal confirmed this meant the facility which would convert LFG to RNG was insured to be completed. Further discussion ensued regarding the wording of the contract in regard to net proceeds. NED's attorney displayed all four (4) iterations of the Agreement to demonstrate the financial projections and returns to the County were unchanged; only the definitions of "gross", "expenses" and "net" were clarified per the Board's request at the last regular meeting. Commissioner Earman spoke in favor of this public-private partnership, noting the minimal risk to the County coupled with the environmental and economic gains. Commissioner Loar maintained concerns regarding the financing and the exhibits in the contract, but noted the bond was a welcome revelation. Tom Sullivan, County resident, received confirmation from the Board that the County's risk was limited to the amount of profits realized, and spoke in support of the project. A motion was made by Commissioner Earman, seconded by Chairman Adams, to approve staffs recommendation. The motion carried by the following vote: Aye: 3 - Chairman Adams, Commissioner Earman, and Commissioner Moss Nay: 2 - Vice Chairman Flescher, and Commissioner Loar C. Environmental Control Board 16. ADJOURNMENT There being no further business, the Chairman adjourned the meeting at 11:52 a.m. Indian River County Florida Page 18