Title
GREC Settlement Agreement (B)
Discuss the Settlement Agreement terms between The City of Gainesville, Florida, d/b/a Gainesville Regional Utilities and Gainesville Renewable Energy Center, LLC (GREC).
Explanation
GRU and GREC are parties to the PPA. A dispute arose under the PPA and, in December 2012, GRU filed a claim for arbitration (the "Arbitration") captioned The City of Gainesville, Florida, d/b/a Gainesville Regional Utilities vs. Gainesville Renewable Energy Center, LLC, et al., American Arbitration Association, ICDR Case No. 50 198 T 00953 12. The Arbitrator issued a binding Order on August 1, 2013, dismissing GRU's claims asserted in the Arbitration. GREC's counterclaims and GRU's motion to dismiss GREC's counterclaims remain pending in the Arbitration.
GRU management and the City Attorney's Office have been in discussions with GREC representatives concerning potential settlement of the counterclaims. Staff seeks direction from the Commission on continuing settlement discussions or taking alternative action.
Fiscal Note
None
Recommendation
The City Commission: 1) hear a presentation and discuss the Settlement terms and; 2) provide further direction to staff relative to an agreement.