The revenues generated by the Renewable Energy Projects are principally proceeds from the sale of SRECs and proceeds from the sale of electric energy to various governmental entities in the County. Under the Lease Agreement, the revenues generated are credited against the Company’s obligation to make the lease payments. Due principally to the drop in SREC prices since the time the Renewable Energy Bonds were issued, the Renewable Energy Projects are not currently generating revenues sufficient to satisfy the Company’s lease payment obligations under the Lease Agreement in full and, therefore, are not sufficient to pay the full amount of debt service on the Renewable Energy Bonds.
But with Tioga bankrupt who now is responsible for coming up with the money to make those bond payments?
Gun violence took the life of an innocent bystander in Plainfield last night but when your priorities are repaying campaign donors, running a friends-and-family jobs program, and possibly electing a new governor there is not much you can bring to the table to solve a problem impervious to photo-op solutions.
. 2016-397: Authorizing the County Manager to award a Professional Engineering Service Contract, through a Request for Proposal (RFP) process, to Maser Consulting PA, of Red Bank, New Jersey to provide professional design, construction administration and inspection services for the installation of an ADA accessible Fishing Dock on Cedar Brook Park Lake, City of Plainfield, New Jersey for an amount not to exceed $59,900.00. (Union County Engineering Project Number 2015-033)
2016-401: Amending Resolution No. 2014-307, adopted on April 10, 20145 awarding the engineering, design, construction administration services to Neglia Engineering for the Oak Ridge Improvement Project to include the design of a bicycle/walking path and a turf field.
2016-404: Amending Resolution Number 2016-14, a professional services contract with Roth D’ Aquanni, LLC, Springfield, New Jersey to be special counsel for Personnel matters, to increase the award for legal services in the amount of $50,000, for a new total amount not to exceed $125,000.
2016-405: Amending Resolution Number 2016-13, which awarded a professional services contract to Bauch, Zucker, Hatfield, LLC, Springfield, New Jersey to be special counsel for Labor and Personnel matters, to increase the amount of award for legal services in the amount of $100,000 for a new total amount not to exceed $200,000.
2016-407: Amending Resolution 2014-207, a resolution awarding a contract to Palumbo, Renaud & DeAppolonio in the matter entitled Kolbeck v. UC, et als., to increase the appropriation in an amount not to exceed $10,000.00 for a sum not to exceed $69, 917.30.
2016-401: Amending Resolution No. 2014-307, adopted on April 10, 2014 awarding the engineering, design, construction administration and inspection services to Neglia Engineering Associates for the Oak Ridge Park Improvement Project to include the design of a bicycle/walking path and a turf field.