FPL’s offer to the City to buy the entire electric business was announced yesterday. Simply put, FPL is offering to pay $185 million leaving the City with $37 million in cash after the City pays to exit its contracts with FMPA ($108) and OUC ($20), and pays off electric business debt ($20). This should be…
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Last week I announced that I was a candidate for the Vero Beach City Council and would be running this year in the November 2017 election. There are two seats to be filled, and no one else has registered to run, but it is very early. The two City Council members whose terms have expired…
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Annually we vote for either 2 or 3 of the City Council positions becoming vacant. Let’s take some time to consider what the job of the City Council member is. The City Council is responsible for running the city. The City Council votes among its members to decide which city council member is Mayor, whose…
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Come to the City Council Meeting on Tuesday at 9:30 A.M. and/or send supportive comments to [email protected]. The clerk’s office will distribute the comments to the council members if asked to do so. A vote for the stormwater utility ensures Vero Beach joins the other municipalities in establishing a multi-year program to clean up the…
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Vero has a several commissions, established to advise the City Council on specific areas of the City interests. The commission members often have deep experience in the subjects, and can be a source of wise advice for the City, as City Council members often do not have time or the skill set to understand all…
DetailsA joint meeting of the Utility and Finance Commissions was held on Tuesday. There was no substantive discussion of the partial sale, as the purpose was solely to hear the results of an electric rate study prepared by Public Resources Management Group for the City’s Vero Electric business. The rate study is an update of…
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There was a meeting of the City Council on Tuesday this week. The sale of the Indian River Shore’s portion of Vero Electric to Florida Power and Light (FP&L) was the main topic. The Council approved the signing of a Memorandum of Understanding (MOU) between and the City and FP&L. The MOU describes the steps…
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The first meeting of the newly elected City Council was held on the 22nd of November. The first item on the agenda was the sale of the Indian River Shores portion of Vero Electric to Florida Power and Light, as part one of the plan to sell all of Vero Electric. Representatives from Indian River…
DetailsRecently Indian River Shores and Florida Power and Light asked Vero’s City Council to sell the Indian River Shore’s portion of Vero Electric to Florida Power and Light for $30 million. Vero’s utility experts and legal team advised that a sales price of $47 million would be required so that the sale did not have…
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I got the question too often, my answers were always unconvincing, so I asked Ted Fletcher, who runs Vero Electric, to help me understand their task of restoring power after a major storm. Ted took me around to different sites on Sunday night, and explained that when the winds die down, they do a survey…
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