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<br />1'l2 <br />k.. r:;.., <br /> <br />MONDAY <br /> <br />SEPTEMBER 11, 1978 <br /> <br />1. There will be some environmental changes, but no major <br />difficulties are anticipated and the total environmental impact <br />should be favorable. Additional investigations are required to <br />provide more detailed information on the environmental effects <br />of the Development. <br /> <br />m. The Martinsville Rehabilitation and Ridgeway Projects <br />show sufficient promise of technical and economic feasibility to <br />justify proceeding with the recommended investigations. This <br />effort should proceed as soon as possible so that if the Development <br />continues to show feasibility it can be completed to meet the <br />proposed January 1985 on-line date. <br /> <br />2. RECOMMENDATIONS <br /> <br />It is recommended that the City: <br /> <br />a. Proceed as soon as possible with Phase II studies for the <br />Ridgeway Project including subsurface investigations, topographic <br />mapping, control surveys, preliminary environmental studies and <br />Evaluation Report. <br /> <br />b. Proceed with studies of the feasibility of rehabilitating <br />the existing power facilities at Martinsville Dam, as part of the <br />Evaluation Report work. <br /> <br />c. Initiate power marketing studies and investigation of <br />financing alternatives. <br /> <br />d. Proceed with a charter amendment to permit 50-year term <br />revenue bond financing for the Martinsville Hydroelectric <br />Development. <br /> <br />e. Discontinue present studies on the Martinsville Project <br />Expansion and reinvestigate economic feasibility in the future. <br /> <br />Following the aforementioned presentation, Council was apprised of the fact that, <br /> <br />pursuant to Council's authorization of December 13, 1977, a formal notice of application <br /> <br />for a preliminary permit has been filed with--and received by--the Federal Energy <br /> <br />Regulatory Commission for the purpose set forth in said authorization, which permit, if <br /> <br />granted, would give the City the right of priority of application for a license to <br /> <br />undertake and complete (within thirty-six months) necessary studies and examinations to <br /> <br />determine the engineering and economic feasibilities of the project(s) set forth in <br /> <br />said application. <br />