[NEWS] Gainesville, Florida City Commission Votes to Buy Biomass Facility for $750M
– August 24, 2017, WCJB
Gainesville City Commissioners have decided to pull the trigger and the people who own the controversial biomass plant are getting a powerball-sized payday.
The negotiation to buy a controversial bio mass plant has been in the works for several months with a price tag of 750 million dollars.
“Price is just one variable. The other part of the variable is interest rate and the other variable is the vehicle by which you use to get the financing,” said Edward Bielarski Jr. of Gainesville Regional Utilities.
With interest included, the final cost would be 1.2 billion dollars.
In a 5-2 vote, Gainesville City Commissioners decided to purchase the plant, a deal some say could potentially save them millions of dollars in the long.
The city will be buying the facility from the Gainesville Renewable Energy Center.