RENEWABLE ENERGY MUNICIPAL
ECONOMIC DEVELOPMENT PROGRAM®
PURPOSE: To Sell Power To Utility Authority Pursuant to 15 Yr. To 25 Yr. Renewable Contract In Perpetuity Under Federal Law.
MUNICIPAL EQUITY IN PUBLIC/PRIVATE PARTNERSHIP
IN POWER GENERATING FACILITY.
- A renewable energy power generating facility must be established and defined by North Carolina General Statute Section 62-133.8, et. seq.
The terms of art contained herein shall be defined by said statute in absence of Federal statute, rule, regulation or specific renewable energy guideline approved by Congress or the Energy Policy Act.
Funds created from Equity held in a 15yr. to 25 yr. term Power Purchase Agreement & Contract (“PPA”) is used to subsidize green/non-green business that would like to start–up, expand and/or relocate to/under partnering municipal jurisdiction.
a. See www.startup.ny.gov for example of subsidy program
States that offer tax credits for renewable energy projects, such as North Carolina, may be converted into municipal bonds, equity, debt or other negotiable instruments to create liquidity for project construction, management and, ultimately, Local Economic Development (as discussed below) over the same 15 yr. to 25 yr. term, backed by the performance of the contracts for power.
a. Inclusive of North Carolina Senate Bill 3, 2007 as amended, and applicable North Carolina Department of Revenue rules, regulations, codes and forms as specifically required by said General Statute.
Under current Energy Policy Act, 2005 (“EPACT 2005″) rules and regulations, equity [minimum of One Percent (1 %)] held by a political subdivision of a State in a Renewable Energy Facility or New Renewable Energy Facility (collectively as “REF”) establishes jurisdiction over and preemption of State and Federal Renewable Energy Projects and associated rules, regulations and requirements.
ADVANTAGE: Interconnect Permit Requests (IPR) and PPA’s must be processed and accepted. Without the EPACT 2005 municipal equity position rules, existing utility companies in a region may challenge the interconnect permit request and/or PPA at any time. With the municipal equity position rules, a challenge to the IPR or PPA can still be maintained; however, there is a finite statute of limitations in which the IPR and PPA can be challenged. Municipal Equity ownership in the IPR and PPA provides the stakeholders (public and private) certainty in the investment and commitment to clean energy solutions without the threat of interminable delays in the courts.
Projects (with at least 1 % equity ownership by the political subdivision and contemplated herein) under municipality subsidies to allow for EPACT 2005 law to conquer issues such as establishing, within the confines of the partnering political subdivision of the State, cannabis cultivation and dispensaries to Tesla Motor Automotive Dealerships, which can be prevented by Federal and State authorities. This also provides political cover against public opinion and town hall outcry.
Municipalities would now be free to solicit and accept both national and international business and economic development opportunities tailored for its local economies.
Municipalities can assist with rebuilding once prosperous cities (for example, Detroit, Michigan; Steubenville, Ohio; Lafayette Louisiana; Yuma, Arizona; Decatur, Illinois; Shreveport, Louisiana per MSN Money report 2013 report) by the square mile as an investment and participation in a national R.E.M.E.D.P.
Commercial, Industrial, Mixed-use development and Residential ReDevelopment Plans from 1,000 acres to 10,000 acres to square miles are examples of economic development/re-development projects that can benefit from this program.
The operational specific details for any given project per this RENEWABLE ENERGY MUNICIPAL ECONOMIC DEVELOPMENT PROGRAM® includes, but is not limited to, the financial requirements for initial investigation of the plan, monetization of equity positions, bonds issues, tax credits, cost of construction, revenue generation from the power purchase agreements, and, ultimately, the costs of management and operation of the facility per patented and proprietary computer software as provided by Father Green, Inc. and as outlined herein.
This the 22nd day of August, 2014.
Carlton Avant, President
Father Green, Inc.