CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Other 		For Meeting of:
September 15, 2014
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
OUC Crystal River Plant Settlement Agreement
Summary:

OUC has been a minority co-owner in the Duke Power (f/k/a Florida Power and Progress Energy Florida) Crystal River 3 Nuclear Power Plant (CR3) since it was commissioned in 1976. On February 5, 2013, Duke Energy announced its intention to retire the Crystal River 3 Nuclear Power Plant because of some unexpected issues that would have been too expensive to repair. 

Duke and all co-owners have reached a settlement by which the co-owners will transfer back to Duke all rights in CR3 and Duke will pay the co-owners a lump-sum payment for the damages and replacement power that each will have to incur because of the loss of CR3 and which releases the co-owners from all future liability for the Plant and site upkeep, security and decommissioning obligations.  The City of Orlando will join in the Settlement Agreement as an owner of the property.
Fiscal & Efficiency Data: N/A
Recommended Action:
Approval of the City's Consent and Joinder to the Crystal River Plant Settlement Agreement and authorization for the Mayor or Mayor Pro Tem and City Clerk to execute the attached Consent and Joinder, Mutual General Release and Special Warranty Deed and Bill of Sale, subject to review and approval by the City Attorney's Office.
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Mary Pappas, Esq.
Approved By:

Department Date and Time
Budget Outside Routing Approval 9/5/2014 3:36 PM
City Clerk 9/9/2014 1:16 PM
ATTACHMENTS:
Name: Description: Type:
CR_3_CONSENT_AND_JOINDER(final09052014).docx Consent and Joinder Backup Material
CR_3_Special_Warranty_Deed_(final09052014).docx Special Warranty Deed and Bill of Sale Backup Material
CR_3_-_MUTUAL_GENERAL_RELEASE(final09052014).docx Mutual General Release Backup Material
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