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<br />1. L <br /> <br />MONDAY <br /> <br />JULY 25, 1983 <br /> <br />~ <br /> <br />I have read of Wind Farms. This may be feasible in a few years. <br />Bob Corekin tells me that we need zoning to protect solar-heated <br />buildings. (Something the City and County could work on together.) <br />We need an Electric Advisory Committee--a permanent committee to <br />work with the Administration...a committee with the technical <br />ability to give sound advice in this highly technical field. <br /> <br />The purpose of today's Special Council Meeting is certainly no <br />surprise. It was not intended to be. Council has a serious <br />decision to make. We wanted you to be present so you will have <br />a clear, first-hand experience with these proceedings. <br /> <br />----- <br /> <br />Mr. George B. Adams, Jr., Chairman, on behalf of the Select Citizens Advisory Committee, <br /> <br />also reviewed some of the work and reports of this special committee, particularly as <br /> <br />to the long-term profitability outlook for the Ridgeway Project. <br /> <br />Mr. George V. Nielsen, on behalf of R. W. Beck & Associates (Consulting Engineers), <br /> <br />after reviewing some of the matters involving the filing of a license application for <br /> <br />the project, the acceptance thereof by the Federal Energy Regulatory Commission for pro- <br /> <br />cessing, and some of the complexities associated therewith, informed Council that, <br /> <br />predicated on conditions as now exist, the project does not now have financial viability. <br /> <br />Mr. Walter W. Craigie, Jr., representing the City's financial advisors for the project, <br /> <br />concurred with Mr. Nielsen's conclusion that the project is not now financially <br /> <br />feasible unless--as the City's only option--it can be shown that, contingent upon <br /> <br />findings from studies not yet made, the project can be feasibly undertaken with private <br /> <br />sector participation (i.e., financing of some thirty per cent of the total cost by <br /> <br />private interests through a sale-leaseback arrangement). <br /> <br />Former City Manager Thomas B. Noland, during whose tenure with the City the Ridgeway <br /> <br />Project was conceived and undertaken, expressed regrets that Council's decision to <br />