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Stanly not jumping at latest Alcoa plan | Salisbury, NC - Salisbury Post - 0 views

www.salisburypost.com/...negotiations-Stanly-County-qcd

NOV2011 Alcoa CommissionersMeeting Commissioners Yadkin SalisburyPost water

shared by Yadkin River on 07 Dec 11 - No Cached
  • but we can understand wanting some guarantees behind it,” Anton said. “We’ve proposed that there would be payments made to the county if we didn’t deliver on either the investment or the jobs for the
  • But in a press release issued Thursday, Stanly County said Alcoa’s financial assurances “are not worth the paper they are written on without sufficient enforcement measures.”
  • The county says it is “seeking fair and reasonable compensation for the long-term use of the river.”
  • ...3 more annotations...
  • The county says Alcoa refused to include language that would enforce the agreement if the company doesn’t live up to its end of the bargain. “As Alcoa’s latest offer stands, there is no efficient or cost effective way for the county to hold Alcoa accountable for its promises of jobs and investment,” the press release states. “This is not ‘compelling;’ it is unreasonable.
  • “We recognize the difficult times in the local economy, and the fact that for the last several years, Alcoa has not been the contributor it had been in the past,” Anton said.
    • Yadkin River
      Yadkin River on 07 Dec 11
       
      Exactly Mr. Anton ! If the Stanly County Commissioners had not put Alcoa's Feet to the FIRE, we wouldn't even be having this discussion!
  • Anton said the county would have control over the money, and Alcoa’s only condition is that it be directed toward infrastructure and education
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Stanly Community College Television (SCC-TV) - Powered by LEIGHTRONIX PEG Central - 0 views

scctv.pegcentral.com/player.php

alcoa stanlyCounty CommissionersMeeting Yadkin RiverKeeper

shared by Yadkin River on 19 Dec 11 - No Cached
  • Yadkin River on 19 Dec 11
     
    Stanly County Commissioners Meeting Dec 5 2011. Contains presentation regarding Stanly County's position regarding the Alcoa/Clean-Tech Proposal
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» Blog Archive » Commissioners Hear Debate Over Yadkin Project - 1 views

insidestanly.com/?p=6330

DEC2011 Commissioners CommissionersMeeting Alcoa CleanTech

shared by Yadkin River on 07 Dec 11 - No Cached
  • In a power point presentation, Chairman Dunevant challenged the numbers released by Alcoa last week as to their options on the table, particularly the $1.2 million financial guarantee from Alcoa to Stanly County should the 450 Clean Tech jobs not materialize. Dunevant pressed the value of this guarantee over the life of the 50-year license, asserting that Alcoa had not factored in depreciation. Dunevant contended that due to inflation that amount would be worth only $500,000 by the year 2020 and just $188,000 at the end of 50 years when the license would again be up for renewal.
  • On the flip side, Dunevant said that Alcoa’s profits from dam revenues would grow at a 3.15% inflation rate from Alcoa’s reported $25 million per year to $114 million at the end of 50 years.
  • “I hope you got that… $1.2 million down to $185,000 and $25 million up to $114 million,” Dunevant stated.
  • ...8 more annotations...
  • In addition to seeing this as inequitable for Stanly County, Dunevant made the point that the $1.2 million would not come directly to Stanly County, rather the funds would go to an economic development trust to be co-managed by the commissioners and the N.C. Department of Commerce. “The money would not go to human services, education or public safety, but to an economic development trust,” Dunevant said.
  • “We will be looking for some long-term guarantee that offsets the inflation. A penalty is supposed to create an incentive to perform, not the opposite,” Dunevant said regarding the $1.2 million guarantee now on the table that shrinks over time.
  • “That shows me that water is becoming a commodity,” Snyder said. “We don’t need to allow a coup to obtain a license for clean water at the expense of the public.”
  • “Alcoa thought they’d get a rubber stamp for renewal, but there’s too much discord in this community for that,” Bryant said. We need to recapture the FERC license and remove Alcoa.”
  • “It’s ludicrous to think the commissioners don’t want jobs,” Dick said.
  • Bramlett warns of selling Stanly County’s birthright
  • “We don’t need to sell our birthright for a cup of soup,
  • “I’ve never seen bribery and blackmail like what had been going on the past couple weeks,” he said regarding the Alcoa commitments and Clean Tech deadline. “Alcoa has falsified records and poisoned this river. You have every right not to trust Alcoa.”
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