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Town of Indian River Shores – City of Vero Beach – Indian River County Electric Utilities Mediation Page 6 May 1, 2015 lawsuit, the parties could still continue to negotiate in litigation. He indicated that if the City and FPL were productive in their talks, then the Town would be glad to accommodate the schedule of the lawsuit. Mediator Alvarez said if the Town and the City put the litigation to the side, then there would be a better chance of reaching a settlement. He had no problem with the Town instituting the lawsuit, but asked if the Town would extend the cooling off time period to June 1, 2015. Mayor Winger wanted the parties to know that he would not support anything done in this venue that was not equitable to all of the customers of the Vero Electric. Mediator Alvarez sensed from the Town’s proposal that the remaining Vero Electric customers would not bear a huge burden. Mayor Barefoot hoped the negotiations between the City and FPL would get to the point where everyone would benefit. He commented in regards to the lawsuit from the Town’s perspective, it could not be any worse than it was now, so they had nothing to lose. He continued, if there was some role the Town could play in the negotiations between the City and FPL that would facilitate a favorable conclusion, he would be more than happy to participate in that discussion. Mediator Alvarez led a discussion regarding the near end of mediation and the parties not reaching an agreement. He said in this mediation there was frustration from all of the parties, but at the same time there were a number of things already happening to better the situation. Mediator Alvarez inquired on a discussion from the December Mediation, regarding a Utility Board beyond the City. Attorney Wright in response to Mediator Alvarez, indicated that creating a Utility Board was still on the high priority list; however, the City’s efforts had been devoted toward trying to get lower rates and costs from power supply sites. Attorney May revealed the Town was moving forward with adopting a Rate Ordinance in the event the litigation was unsuccessful; they would have the legal authority to adopt their Rate Regulatory Ordinance within the Town limits. Commissioner O’Bryan thanked the Town for bringing forward a potential sol ution and reiterated the County’s position was that the only true and equitable solution was the full and complete sale of the entire electric utility to FPL. He indicated the County feels that progress would be made toward a solution for a full and complete sale of the City of Vero Beach’s Electric Utility by sending a letter to the legislature requesting the Joint Legislative Auditing Committee to tell FMPA: 1) to give the City the value of their assets; and 2) to provide the exit costs for the City. The Mediator announced a recess for discussion at 11:05 a.m. and resumed at 11:13 a.m., with all parties present.