Workshop on USDA’s 2005 Section 9006 “Renewable Energy Systems and Energy Efficiency Improvement Programs” Rural Grant & Loan Opportunities Agenda May 11/12/13, 2005 8:00 am — 1:00 pm Locations: May 11" Moab at Moab Arts and Recreation Center ~ located at 111 E 100 North, Moab, UT 84532 May 12": Richfield at Snow College - located at 800 W 200 S, Richfield, Utah 84701 May 13" Salt Lake City at the Department of Natural Resources ~ located at 1594 W North Temple, Salt Lake City, UT 84114 8:00-8:30 Registration 8:30 ‘Welcome and Overview - Sarah Wright, Utah Clean Energy Overview of agenda, what we hope to achieve, and summary of prior year winners including brief case study highlights of successful projects 8:45 Section 9006 Renewable Energy and Energy Efficiency Program ~ Richard Carrig, ‘USDA Rural Development 10:00 Other Financial Resources and Support=Panet$$$ $$ Utah Power, Finanswer Program, energy efficiency --Hallie Jones, Utah Power Utah Incentives and Anemometer Loan Program — Nykole Littleboy, Utah SEP USDA programs - Richard Carrig, USDA. ‘Working with your Local Banker - Reed Balls, UFB 10:45 15 minute break with refreshments 11:00 - 1:00 Technology Group Breakout Sessions ‘Wind Basics 101 & Project Ownership models ~ Steve Palomo, US DOE Brief overview of wind market, technology, facts vs myths, and summary of small and community scale project models 1:20-1:00 Simultancous break out ‘Community Wind (over 100KW) - Wes Perrin, US DOE ‘Step by step businesses model and application walk through ividual support Small Wind (under 100 kW) - Trudi Forsyth, NREL and Steve Palomo, US DOE ‘© Small wind technology and sample case studies and applications (10 kW, 35 KW, 65 kW) © Q.& A and individual supportBOEARISS [ii a eae Q.& A- Orrin Farnsworth, SPS Energy Solutions * *Although there will be no specific breakout session for solar energy projects, interested parties are encouraged to attend the wind sessions in order to participate in the business model and application walk through. There will be an opportunity for individual questions as well. Case Studies and Application Process — Hallie Jones, Utah Power In SLC 5/13 and Richfield 5/12 add the following breakouts: Case Studies and Application Process — Patti Case, Intermountain Combined Heat and Power Application Center ~ Carl Hansen, Nutrition and Food Sciences Department, Utah State University Case Studies and Application Process — Robert Blackett, Utah Geological Survey ~Sandy Glatt, US Department of Energy Energy, Utah Geological Survey State Energy Program, Utah State University, Utah Farm Bureau, Utah Power, and the National Renewable Energy Laboratory . : ol (nol If be Fides) — RBEC Wilf be Ss Par Redrard Cut, prvi a Sle sive on Lay, FAG eT prestble Come From COSEK nd Resource Assesment RBEG ee Spdy KBe6 mar ber Analysts [Comment ty Survey Ape Markefirg Spe teqy CF Growt — GiK, Shop Long ter? [mw = ‘1000, 20 ves tre 2-3 jabs per MW a ~ News enperience Spel, Pte bn toga ett ee Gas siaemail Stuoler Beaneths 5X gy ote . ond hetarls , ton tacrs, omni [gayle prckcathate | eg oe Bevral” Roel ipo "6 orig ogy pike bmibrich Gthas ly mike styler — DNR gyi oy 01 marke st er @ wloh «gov aan ee a, B. Adawrs. a Mee ees ee > Lollow vr fre le wittt pret paracg ePFREE WORKSHOP Funding for Renewable Energy and Energy Efficiency Projects FREE Workshops to help you learn how to apply for United States Department of Agriculture funding ($23 million available nation wide) for renewable energy and energy efficiency projects WHO: Anyone interested in learning the basics of wind power and/or applying for funding from the United States Department of Agriculture for any renewable energy or energy efficiency projects. WHAT: United States Department of Agriculture (USDA) Farm Bill (Section 9006) Grant Writing Workshop For Renewable Energy and Energy Efficiency Projects in Utah WHAT THE ENERGY GRANT WORKSHOP WILL DO FOR YOU? ‘+ Explain the Renewable Energy Systems and Energy Efficiency Improvements Grant Program Introduce you to Wind Energy Applications and Development Options Give Project Case Studies of successful 2004 Farm Bill Awards ‘Overview and Specifics of Section 9006 in the Farm Bill including: © Applicant and project eligibility ‘© Grant cost-share and fund use ‘© Application process (forms and scoring) ‘+ Answer Project-specific Questions for Wind, Solar, Biomass, Geothermal and Energy Efficiency ‘+ Help you access the $23,000,000 available nationwide HOW MUCH: No fee or advance registration Is required for these workshops edule is: wut 7 in Moab at Moab Arts and Recreation Center May 11°" 8am to ipm’ = located at 800 W 200 S, Richfield, Utah 84701 ‘+ May 13* 8am to 1pm in Salt Lake City at the Department of Natural Resources ~ located at 1594 W North Temple, Salt Lake City, UT 84114 To find out if this program is right for you or if you have any questions, contact Nykole Littleboy, State Energy Program, Utah Geological Survey at 801-538-5413 or by e-mail at This series of workshops was made possible by help from additional sponsors and presenters: USS. Department of Energy's Wind Powering America and GeoPowering the West Programs, Utah Farm Bureau, National Renewable Energy Laboratory, Utah Geological Survey's State Energy Program, Utah Clean Energy, Utah Power, and the USDA Utah Rural Business-Cooperative Services.svn Mons TVES WEr THU FR SAT Tedew Living Sfp Metpor olesigt tr Jerk ey close! ta hoose tiheve js phe best suitable Sites erith in toy cou tg Shte needs ir page Catt Certaba arnrwnt 6é = Leon, renivalle ete oy withovs jee ge Wikhe bed real epee sen y ive inter cer Eetry * has dap! cel shard av A Tale hy Sarah wrigat, al aetrant of politica ( issues Trad, Livy ston sendviu me Safe pois Diet venus lt on toy base with Jeud avail ard erced wind te souree [op mw prorect pot put of ceasous 159 million peoject A eden sh orweng Frit SF tomunity 12-24 jobs. wie lhe P42] FGreg Martin Christine Watson Mikell [christine@wasatchwind.com] Thursday, November 09, 2006 1:26 PM Greg Martin Weather Station at the airport Hey Greg, We got some preliminary data back from the towers: Period 8/28 to 10/21 50m Avg shown 14 NW of town 5.8 m/s 0015 on bluff 5.6 m/s 0022 deer neck 5.3 m/s Most of wind rose is due 8. We were wondering if you knew of a weather station at the airport or elsewhere (DOE site) which might be collecting data now and in the past. Ideas on who I should contact? We would like to find a weather station that we could correlate and determine historical data at the 50 meter height. ‘Thanks, Christine -original Message~. From: Greg Martin [mailto:Greg@monticelloutah-org] Sent: Thursday, July 06, 2006 9:31 AM To: christine watson mikell Subject: RE: SE-270 You might ask Bruce Adams if any special permit is required to erect them in the county. He may have to ask someone else. I'm guessing there won't be a need for a CUP. If you do need on the agenda, the county Commission meets every Monday of the month, except the fifth Monday, at 10:00 a.m. 1 doubt you can find out property owners electronically. I could be wrong, but I know I've always had to go into the recorder's office to get that information. I just don't think San Juan County is quite up to speed as far as electronic records go. Having said that, T would call the county recorder Louise Jones at 435-587-3223 ext. 4126. Original Message— From: christine watson mikell (mailto: christine@wasatchwind. com} Sent: Wednesday, July 05, 2006 6:11 PM To: Greg Martin Subject: RE: SF-270 Question for you, what is the process that we will need to go through to erect the 50 meter met towers? Will it require being on the agenda of a county commission meeting for a conditional use permit? If so, can you tell me the next time there will be a meeting? I can probably make it as my husband will be working in Moab for the next several months and I plan to come down next week for several days.Also, we have found some good areas to install the met towers but now need to figure out who Owns the land. Can this information be found electronically through the county website? Utah County has a web page that has all the land records in the county, but T doubted that your county has the same, hopefully they do! Thanks, Christine Watson Mikel Wasatch Wind christine@wasatchwind.com 801-943-0104 (office) 801-455-1045 (cell) 801-942-1675 (fax) Original Message-, Greg Martin [mailto:Greg@monticelloutah.org] : Wednesday, July 05, 2006 3:54 PM christine watson mikell Subject: FW: SF-270 christine, Apparently, our grant agency requires that all parties working on the project sign form AD-1048. (See below and attached.) Can you take care of this for me? Thanks. Greg original Message~ Justesen, Jason - Provo, UT [mailto:Jason.JustesenGut .usda.gov] Wednesday, July 05, 2006 2:35 PM To: Greg Martin’ Subject: SP-270 Greg- Please submit a copy of the invoice with the SF-270. According to the Letter of Conditions it could take up to 30 days for the funds to be advanced. I'll expedite it as quickly ae possible. We will also need an AD-1048 signed by any parties working on the project. This includes the party contracted to erect the towers. Let me know if you need anything else. My fax # is 801-356-1237. Jasona a Utah’s Canyon Country! Peete ir Salad Fannary 24, 2006 ‘To whom it may concern; ‘the San Iuan County Commissioners and the Casteland Resource, Conservation and Development Council (CRED) invie 108 dene eae Ging cn the potential for wind energy development in San Juan County. The meeting willbe held on Monday the 13” of February at 7 P.M. in the San Juan County Commission chambers. The County Commissioners and RCD have retained the services of Mr. Wes Perrin to lead this informational and crpanizatioal meeting, Mr. Perrin sa wind energy consultant who has worked in ever states jp the West and with numerous frat, government and non-govemment entities on the subjects of wind development, community ‘wind organizational Structures, and the wind development process. ‘The purpose of the mestng is to assess the interest in wind development in the regions! commit and to identify those The purpose oe wlling to participate inthe proces of establishing a wind development business entity. The function of this nity will be to complete a feasibility study on the merits and potential of wind energy development Tocally Please, RSVP to Judy Fulks at San Juan Community Development, 435- at this very important event on the evening of the thirteenth 1587-3235, ‘Thank you, we look forward to seeing you ‘Community Development & Visitor Services 117 South Main Street ~ P.O. Box 490 ~ Monticello, UT 8453 | 435-587-3235 ~ Fax: 435-587-2425State of Utah DEPARTMENT OF NATURAL RESOURCES MICHAL R-STYLER JON M. HUNTSMAN, 38 Genenor Utah Geological Survey guy noumaanar | RICHARD CALs June 2, 2009 Myron W. Lee i Monticello City Manager 1 PO Box 457 Monticello, UT 84535, Subject: Wind Monitoring Data Summary ~ Monticello-1 — Site 6 Dear Myron: Since July 11, 2001, the average wind speed for the Monticello-1 site is 11.52 mph at 20 meters. The prevailing winds originate from the south-southwest from the morning through the late aftemoon, and from the northwest from the early evening through the night, Wind speeds increase from the daily low at 07:30 hours to a high at 14:30 hours, then decrease gradually until 21:30, where they remain relatively stable until their low. ‘The Wind Analysis Summary Report predicts the power output of a 2.SMW Clipper Liberty C99 wind turbine, scaled to 80 meters, as well as the net capacity factor. The estimated net capacity factor (5 percent net losses assumed) is 25.0 percent. Typically, a capacity factor in the 25-35 percent range and above are considered ideal for commercial wind development. Additionally, the analysis provides information on the overall wind characteristics via the wind rose graph, daily wind speed graph, and the probability distribution fimction graph. Please feel free to contact me with any questions or comments at elisebrown@utah.gov or (801) 537-3365. Sincerely, 3 A Elise Brown Renewable Energy Coordinator State Energy Program DNR, 1594 West Tempe, Suit 3110, alt Lake Cy, UP 86116-6100 selephone (80) 537-3300 simile (B01 837-3400» TTY (8) $38-158 «geology aah gov ibecncsuneryState of Utah DEPARTMENT OF NATURAL RESOURCES ‘MICHAEL R. STYLER JON M. HUNTSMAN, JR Gon Utah Geological Survey ‘any n. Meme RICHARD G ALLIS Cinta Gowrner’ Su GetnteDhiton Drcor June 2, 2009 Myron W. Lee , Monticello City Manager s PO Box 457 Monticello, UT 84535, . Subject: Wind Monitoring Data Summary ~ Monticello-2 ~ Site 22 ‘Dear Myron: Since November 21, 2002, the average wind speed for the Monticello-2 site is 10.87 mph at 20 meters. The prevailing winds originate from the south-southwest from the late morning through the early evening, and from the north-northwest from the late evening through the early morning. ‘Wind speeds increase from the daily low at 07:30 hours to a high at 14:30 hours, then decrease gradually until their low. ‘The Wind Analysis Summary Report predicts the power output of a 2.5MW Clipper Liberty C99 wind turbine, scaled to 80 meters, as well as the net capacity factor. The estimated net capacity factor (5 percent net losses assumed) is 22.0 percent. Typically, a capacity factor in the 25-35 percent range and above are considered ideal for commercial wind development. Additionally, the analysis provides information on the overall wind characteristics via the wind rose graph, daily wind speed graph, and the probability distribution function graph. Please feel free to contact me with any questions or comments at elisebrown@utah.gov or (801) 537-3365. Elise Brown Renewable Energy Coordinator State Energy Program Sincerely, DNR, 1594 Wee Nar Temple, Site 3110, Sal Lake iy, UT 841146100, telephone (81) $37-3200 esl (201) 537-3400 « TTY (801) S3E-T4S8 «geology aah gov Eee)Sor ae, [asue Date. : 2 se! Es ae z Hee arse/2006 Producer Utah Local Governments Trust || THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO ‘56 South Highway 89 RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND North Salt Lake UT 84054 (OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW, insured [SEI COMANIES AF RORDINGIOOWERAGE ty Quen Uw HNan City of Monticello [Company A ‘Utah Local Governments Trust PO Box 457 [Company B 17 North 100 East [Company Monticello, Utah 24535 [Company D [COVERAGESTIGNENnn NOR RE aE ‘THis ITO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WIT} RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN I§ SUBJECT TO ALL THE EXCLUSIONS AND CONDITIONS OF SUCH POLICIES, LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAMS. (Go) envPEIORINSURANCE™S =] =GROLICHNUNBERS [EROLOVEXR RATIONS [= ps NIE TACRUNTS SENN JA [Genera Liabity Icsime mace 12510-61206 Continuous |General Agsrogate ‘$2,000,000, loocurence [A [auto Labi [Combined Siglo Unt ‘$2,000,000 lany auto X_|12510-61.2006 09/24/85 ‘Continuous lout irr per Person [wma aus Boat evry per Accident \scnecised Autos property Damage |Workers’ Compensation statutory and |As Per Utah Law lemployersLiabitty [Auto Physical Damage JDeavcubie lcomprehensive lcotision [Proper JDeducue coverage [omer EScRIPTION a ENE nea ee omen Seas Confirmation of General Liabilty Coverage for Monticello Cy in regards to Wind Study Towers located on Stato property, located North of Monticello City. State of Utah Trust Lands Administration is named as Additional insured as thoirintorests may appear. [CERTIRICATE ROEDER nS CANCELLATION ONES DEE Goa | SHOULD ANY OF THE ABOVE OESORIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION OATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR ‘State of Utah TO MAL 30 __ DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER Trust Lands Administration [NAMED To THE LEFT, BUT FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE NO ‘Moab, UT (OBLIGATION OR LIABILITY OF ANY KINO UPON THE COMPANY, ITS AGENTS OR . REPRESENTATIVES. Attn: Jeanine [Aumionizen REPRESENTATIVE TOG ARD REPRERENTATIV 435-259-7473 1. Stophen Fitton, PresidentExecutive DirectorUSDA mando. es a — nou econ Sor tan ee Soae Provo, Utah 84606, ‘are I PEMD May 15, 2006 Mr. Greg Martin City of Monticello P.O. Box 457 Monticello, Utah 84535 Dear Mr, Martin: This is to inform you that the Rural Business Enterprise Grant (RBEG) in the amount of $66,500 has been approved and has an obligation date of May 9, 2006. A copy of FmHA Form 1940-1, “Request for Obligation of Funds is included. If you have any questions feel free to call me at 801-377-5580 ext. 22 or email at jason justesen@ut.usda.gov. Sincerely, Ps Juars JASON JUSTESEN Area Specialist Enclosure 302 Eas 180 South, Prove, UT 64608, (01) 877-680, Fax (801) 356-1257 Commitedo theatre of rr commute. “USDA is an equal opportunity provider, employer and lender.” To file a complaint of discrimination write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington DC 20250-9410 or call (800) 795-3272 (voice) or (202) 720-6382 (TDD).ts poet ‘Rural Bovelopment Salt Lake Gay, Ulan June 14, 2005 Mr. Greg Martin Monticello City P.O. Box 457 Monticello, UT 84535 Dear Mr. Martin: ‘This is to inform you that the Rural Business Enterprise Grant (RBEG) in the amount of $28,000.00 has been approved and has an obligation date of June 14, 2005. A copy of FmHA Form 1940-1, “Request for Obligation of Funds is included. If you have any questions feel free to call Roger Koon at 801-524-4301 or email him at roger.koon@ut.usda.gov. Sincerely, Sh RICHARD CARRIG, Business & Cooperative Programs Director Enclosure 128 South State St, #4311, Salt Lake City, UT 84138, Phone (801) §24-4920, Fax (901) 524-4406 Commies tothe uus of na communes ural Devolopmentis an Equal Opportunity Lender, Provider, and Employer. Complaints of discrimination should be sent 10 USDA, Director, Office of Cvl Fights, Washington, D. G. 20280-8410as/e3/2005 15:17 4385672272 CITY OF MONTICELLO PAGE 83 soa Form’RD 1940-4 REQUEST FOR OBLIGATION OF FUNDS (fev. 0405) TNSTRUGTIONS-TVPE IN CAPITALIZED ELITE TYPE IN SPACES MARKED( > Complete tems 1 through 29 and appiicabe items 20 through 34, See FA 7 EASE NUMBER TOAN NUMBER FISCAL YER ST CO BORROWER © 52-018-876000250 00 BORROWER NAME - "NUMBER WANE FECES (ONTICELLO CITY 3] .2.r3sem ban STATE AME loo Box 457 ra COUNTY NAME Mowrrcmto, ur s4s3s SAN JUAN GENERAL GORROWERLOAN NFORHATION TRAGeETNE THPEOE—sapearpmet | 8, COLLATERAL CODE] 0 ENPLOVEE CLASSIFICATION APPLICANT $290.95 reNERS RELATIONSHIP CODE A a 7, SEX CODE i1- MARITAL STATUS 12 VETERAN CODE [ite ioe” Sememensuas’ | | 12 7. DIRECT PAYMENT | 15TYPEF PATMENT | 1 FEE NSPEGTION ony eae came |e 77, ComoNTy Sie 7B. SE OF FINDS COBE Same" ange ere COWPLETE FOR OBLIGATION OF FORDE TOPEOF WS PURPOSE CODE 7H, SOURCE OF FUNDS | WPE FACTION ASSISTANCE ‘eee, oan | _ une FI 3 See 25. PE OF SUBMISSION 725, ANOUNT OF LOAN TE-AWOUNT OF GRANT ae $28,000.00 36, AMOUNT OF MREDIATE DE OF BEINTEREST RATE [9 REPAVIIENT TERS vance APPROVAL Mo DAY YR o% jo COWPLETE FOR COWMURIY PROGRAN AND CERTAIN MULTPLEARLY ROUSING LOANE FROAT FE mame COUPLETE FOREN LOANS OT COMPLETE FOR GREOIT SALE-ASSUUPTION Bi DBASTER DESIGNATION NOMBER SFE — TANCE OFFGE USE OMT COUPLETE FOR FP LOANS ONLY, i OBLIGATON Dare TE BEGINING FARHER RANCHER ‘Tie deine cntiad aie form rei dental reasoner cance of USDA ase J may pel We deo nd law a herieg Jor map est © ‘Poon n tofu har, Pa efor he ced or is ptpre ear 9 ORIGINAL Borrower's Case Folder COPY 4-Finance Office COPY2-ApplicantiLender_ COPY 3- State OfficeeG/as/2085 15:17 4355872272 CITY OF MONTICELLO PAGE a4 CERTIFICATION APPROVAL For All Farmers Programs EM, OL, FO, and SW Loans 35. 36. Date, Date 3. ‘This loan is approved subject to the availability of funds. f this loan does not close for any reason within 90 days from the ato of approval on this docuraent, the approval official will requost updated eligibility information. The undersigned losn applicant agrees thatthe approval official will have 14 working days to review any updated information prior to subeitting this document for obligation of funds. If there have been significant changes that may affect eligibility, a decision as to cligibility ond feasibility will be made within 30 days from the time the applicant provides the necessary information. Af this is « loan approval for which a lien and/or title search is necessary, the undersigned applicant agrees that the 15-working-day lorn closing requirement may be exceeded for the purposes of the applicant's legal representative completing ttle work and completing lan closing. COMMENTS AND REQUIREMENTS OF CERTIFYING OFFICIAL See attached Letter of Conditions dated 0¢/01/2005. THEREBY CERTIFY that I arp unable to obtain sufficient credit elsewhere to fiance my actual need at reasonable rate and corms, taking into consideration prevailing private and cooperative rates and terms in or near my community for loans ‘or similar purposes and periods of time. agree to use the sum specified herein, subject to and in accordance with regulations applicable tothe typeof assistance indicated above, and oquest payment of such sumn. I agre to report to USDA sy mataial adverse changes, nancial or otherwise, tht occur prior loan closing. I certify that no part of the sum specified herein has been received. [have reviewed the loan approval requirements and comments associated with this loan request and agree to cormply with these provisions (For FP loans at cligible terms only) tf this foan is approved, I elect the interest rate to be charged on my Loan tobe the Tower ofthe ‘terest rate in effect a the time oF foan approval or loan closing IF7 check "NO", the interest rate charged on my oan willbe the rate specified in Hem 28 ofthis form. yes NO WARNING: Whoever, in any matter within the Jurisdiction of any department or agency of the United States knowingly and wilfully fasifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any falae, fictitious of fraudulent statements or representations, or makes of uses any false writing or document knowing the same to contain any false, ficttious or fraudulent statement or entry, shall be fined under this tie or Imprisoned not more than five years, or both.” & - Lab & fo 20 (Signatre of Appiteany) Lab , 20 (Signane of Go-Applicant) UHEREBY CERTIFY that ll ofthe committee and administrative determinations and certifications required by regulations prerequisite to providing assistance ofthe type indicated above have been made and that evidence thereof isin the docket. and that all requirements of pertinent regulations have been complied with. 1 hereby approve the above-described assistance in the amount set forth above, and by this document, subject to the availability of funds, the Goverment agrees to advance such amount to the applicant for the purpose of and subject to the availability prescribed by regulations applicable to this type of assistance, <= : Se bb of Gignanure of Approving Oficial) Date Approved: Til 38 ‘TO THE APPLICANT: As of this we bhi Lod «this is notiee that your application for financial assistance from the USDA has been approved, as indicaled above, subject to the availability of finds and other conditions requited by the USDA. Ifyou have any questions contact the appropriate USDA Servicing Office.Matai proer of qasatobtuiir Page 1 of 2 “aut Ste Ruth Skouson Tracy > From: Christine Mikell (christine@wasatchwind.com] Sent: Tuesday, June 23, 2009 4:08 PM To: Ruth Skouson ‘Subject: RE: agreement Hi Ruth, | thought it better to have a conference call in number, here itis, Dial in: 868-405-4440 Conference Code: 8633222926 Thanks, Christine From: Ruth Skouson [maitto:Ruth@monticelloutah.org] Sent: Tuesday, June 09, 2009 3:49 PM To: Christine Mikel Subject: RE: agreement Christine, . I've blocked out our calendars for Wednesday, the 24" at 10:30 a.m. We can call you at the number listed below. Thanks, Ruth From: Christine Mikell [mailto:christine@wasatchwind.com] Sent: Tuesday, June 09, 2009 3:20 PM To: Ruth Skouson Ce: Brett Woodard ‘Subject: RE: agreement Hi Ruth, These appear to be the contracts that we have with the city. The only other documents out there would be the ‘met tower agreements but they would be between the landowner and Wasatch Wind. if you need that information, please let me know. | would be happy to explain further our involvement in the wind study should you want to know more. in a nutshell, we have indentified one site in the Monticello area that appears to have the best wind, We are in lease negotiations with the landowner. After doing more detailed economic modeling, however, it appears that the project metrics are such that the project is not viable unless we can find low cost of capital. There is a program through the government by which the City (or County) could apply for and possibly receive Clean Renewable Energy Bond funding such that the project would receive very low cost of capital. See the following links for more information, http://www.nreca.org/documents/publicpolicy/cleant nergybonds.pdf and http://www.dsireusa.or centive.cfm?Incentive_Code=t ert 6/24/2009Ped (westock ater has "tower 3 — Paes Pn mere i avd _ wie ellnwed 40 leexp Ando prvate fv 3 gre. Tracy “Tint CE au Pret worded cee guid Chatekwe- ibugutt ™ fhtiia. ~ france pore Wk Caged uber he ° | map nntt pin Copy fac wld rig wf el by Gproratlyy 3l-B2% — [nator xu Lond on unanbsidired fnameingy optims- PRA= power perchase agueming « Ee. cobra Apps fo trwen$ -—Page 1 of 2 DSIRE Sauce Database of State Incentives for Renewabies & Etelency Clean Renewable Energy Bonds (CREBs) Last DSIRE Review: 04/14/2008 Incentive Type: Federal Loan Program Etigible Solar Thermal Electric, Photovoltaics, Landfil Gas, Wind, RenewablelOther Biomass, Hydroelectric, Geothermal Electric, Municipal Sold Technologies: Waste, Hydrokinetic Power, Anaerobic Digestion, Tidal Energy, Wave Energy, Ocean Thermal ‘Applicable Sectors: Local Goverment, State Government, Tribal Government, “Municipal Utty, Rural Electric Cooperative Varies Certain terme fo “new” CREBS differ from those for prior allocations. See IRS Notice 2009-33 for details, it:/Avww ie govirb/2007-14 IRBlart7 him! : 26 USC § 54 (Old CREBS) ‘Amount: Terms: Expiration Date: 12/31/2000 ‘Authority 2: 26 USC § 54A (New CREBs) Date Enacted: 10/03/2008 Date Effective: 10/02/2008 ‘Authority 3: 26 USC § 54C (New CREBs) Date Enacted: 10/03/2008 (subsequently amended) Date Effective: 10/03/2008 ‘Authority 4: IRS Notice 2009-33 Date Effective: 04/07/2009 Expiration Date: 08/04/2009 ‘summary: Note: The terms “new and “old” CREBS are used in the following summary to estinguish between prior CREB locations {nd the new CREB authorizations made by the U.S. Congress In 2008 and 7009. The use ofthe term "new CREBS" has loge! Signitcance n that new CREBSs authorized under 26 USC § S4A and 4C have eubstandally ferent rules than prior CREB ‘ilocations authorized under 26 USC § 84. CClean renewable eneray bonds (CREBs) may be used by certain entities — primarly in the public sector to finance renewable energy projects. The list of qualifying technologies is generally the same as that used for the federal renewable energy production tax credit (PTC). CREBs may be issued by electric cooperatives, goverment enftes (states, cies, counties, terres, Indian tribal {governments or any political subdivision thereo), and by certain lenders. CREBSs are issued — theoretically ~ wih a O% interest rate” ‘The borrower pays back only the principal of the bond, and the bondholder receives federal tax credits in leu of the traditional bond interest ‘The Energy Improvement and Extension Act of 2008 (Div. A, Sec. 107) allocated $800 milion for new Clean Renewable Energy Bonds (CREBs). in February 2008, the American Recovery and Reinvestment Act of 2009 (Div. B, Seo. 1111) allocated an addtional $1.6 billon for new CREBS, for a total new CREB allocation of §2.4 bio. The Energy Improvement and Extension Act of 2008 also extended the deadline or previously reserved allocations (old CREBs") until December 31, 2009, and addressed several provieions in the existing law that previously limited the usefuiness ofthe program for some projects. A separate section of the law extended CREBs clibilty to marine energy and hydrokinetic power projects In April 2009 the IRS issued Notice 2009-23 sofictng applications for the new CREB allocation and providing interim guidance on Certain program rules and changes ffom prio: CREB allocations. The expiration date for new CREB applications under this solicitation is August 4, 2009. Further guidance on CREBs ie avalable in IRS Notions 2006-7 and 2007-26 tothe extent thatthe program rules ‘ere not modified by 2008 and 2009 legislation. http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US45F&re=1&ee=1&p.... 6/24/2009Page 2 of 2 PParicipation in the program is limited by the volume of bonds allocated by Congress forthe program. Participants must frst apply to the Intemal Revenue Service (IRS) for a CREBs allocation, and then iseue the bonds within a spected time period. The new CREBs allocation totaling $2.4 blo does not have a defined expiration date under the law; however, the recent IRS solcation for new ‘applications requires the bonds to be issued within 3 years after the applicant receives notification of an approved allocation (see History section below for information on previous allocations). Public power providers, governmental boties, and electric cooperatives, fare each reserved an equal share (33.3%) of the new CREBs allocation. The tax cre rate is st dally by the U.S. Treasury Department. Under past allocations the credit could be taken quarterly on a doliar-or-dolar basis to offet the tx liability ofthe ‘bondholder. However, under the new CREBs allocation, the credit has been reduced to 70% of what t would have been otherwise ‘Other important changes are described in IRS Notice 2608-33. ‘CREB citer from traditional tax-exempt bonds in that the tax credits issued through CREBs are treated as taxable Income forthe ‘boncholder. The tax credt may be taken each year the bondholder has a tax Kabllty ae long asthe eredt amount does not exceed the limits established by the federal Energy Policy Act of 2005. Treasury rates fr prior CREB allocations, or “old” CREBs are avalable ‘here, while rates for new CREBs and other qualified tax credit bonds are available here. Histor ‘The federal Energy Poly Act of 2005 (EPAct 200) established Clean Energy Renewable Bonds (CREBe) as aancing mechanism {orpubte sector renewable energy projects. Tis legislation onginaly alocted S800 milion of exert bonds fo be feaued between ‘iauary 1, 2006, and December 3, 2007. Following the enactment ofthe federal Tax Rol and Neath Care Aet of 2006, he IRS made an addon $400 mon in GREBs financing avaiable for 2006 trough Notice 2007-25, In November 2006, the IRS announced that the original $800 milion allocation had been reserved fora total of 610 projects. The ‘addtional $400 milion (plus surrendered volume from the previous allocation) was allocated to 312 projects in February 2008. Of the 51.2bilion total of tax-credt bond volume cap allocated to fund renewable-energy projects, stale and local government borrowers ‘Were limited to $750 malion ofthe volume cap, with the rest reserved for qualified mutual of cooperative electric companies. For futher information on CREBs, contact Zoran Stojanovic or Timothy Jones ofthe IRS Office of Associate Chief Counsel at (202) (622-3980. Questions on recent IRS Notice 2009-33 can be drected to Janae Lemley at (636) 255-1202. “in practice, for a variety of reasons bond issuers have sometimes had to issue the bonds ata discount or make supplemental interest ‘payments inorder to find a buyer. Contact: Public Information -IRS US. intemal Revenue Service 41411 Constitution Avenue, N.W. Washington, OC 20224 Phone: (200) 829-1040 Web Site: hit:/ime irs. gov http://www. dsireusa.org/incentives/incentive.cfin?Incentive_Code-US45F&re=1&ee=1&p..._ 6/24/2009