Alcoa has stated they will provide financial assurances (up to $1.2 million) for the life of the license. However, Alcoa has failed to inform the public these assurances are not worth the paper they are written on without sufficient enforcement measures included in the agreement. Alcoa has refused to accept any language we have put forth that would provide sufficient remedies for the County to receive “financial assurances”, if Alcoa does not live up to its end of the bargain.
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» Blog Archive » Commissioners Comment on Status of Alcoa Negotiations - 1 views
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In fact, the proposal Alcoa presented includes an escape clause for any responsibilities due from the company, but it does not allow for review of the hydroelectric license once the license has been awarded.
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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
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