GREC rejects city request for more time
Published: Wednesday, October 9, 2013 at 6:57 p.m.
Last Modified: Wednesday, October 9, 2013 at 6:57 p.m.
The City Commission's deadline to make an offer to purchase Gainesville's biomass plant will remain Oct. 22.
On Wednesday afternoon, the owners of the Gainesville Renewable Energy Center declined the city's request for an extension until early December.
"Please be aware that we are subject to a variety of constraints and are unable to grant an extension of the timeframe specified," GREC Chief Financial Officer Al Morales wrote in an email to City Attorney Nicolle Shalley.
The City Commission voted Monday evening to ask for the extension, seeking more time to weigh the perceived pros and cons of owning the biomass plant and to look at the finances of a potential offer.
GREC informed the city in late August that it was looking for tax equity investors or working toward the outright sale of the plant. That started the city's 60-day window to make an offer to purchase the plant.
The city subsequently rejected GREC's request to waive for 120 days its contractual rights of first offer and its ability to review and potentially object to a sale of the plant to another company.
The City Commission will discuss a potential offer again at its Oct. 17 meeting.