City Attempts State Funding for AECOM Solar Project
By: Libi Uremovic| Original Article at Patch.com
The city of Beaumont was trying to get a loan for the solar project with ‘I-Bank’ – which is State Bank – http://www.ibank.ca.gov
Very funny that aecom put ’seeing’ in parenthesis – but that’s exactly right – from a financial perspective – it’s obvious that the City is financial ruin.. ”..the Underwriters are “seeing” that the City is not financially healthy and the enterprise fund as well..”
—-Original Message—–
From: Kelsey Gormley [mailto:Ke*****@be***********.com” data-original-string=”ez+gdpmAxAaTNTB/hcxG1A==e582gbe5hrNvWLcJRbEn8e44o5gd6glFvi0AQ/Qe+YibDQ=” title=”This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.]
Sent: Tuesday, October 14, 2014 01:39 PM Pacific Standard Time
To: Ruben Rojas Subject: Follow Up Good afternoon Ruben, Just checking in to see if you had any follow-up questions or requests for additional information that came up upon reviewing the City of Beaumont’s finance request for the WWTP solar project? I am happy to assist if there is additional information you need. Thank you,
On Oct 28, 2014, at 8:45 AM, Ruben Rojas
<
Ru*********@ib***.GOV
>
wrote: Hi Kelsey / Rebecca By chance do you have time today or this week for a quick call? I am in DC this week and thus subject to the time difference but will do my best to accommodate your schedules.
Ruben J. Rojas
Deputy Executive Director
California Infrastructure and Economic Development Bank
—–Original Message—–
From: Wetzstein, Rebecca [mailto:Re***************@xx.com” data-original-string=”6Fd7B7u9PewzgFO0lNcDLg==e58LMPjMoqz76aRMElcMCTAujh43Wsl5QhVoug2Zvf9ofY=” title=”This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.]
Sent: Wednesday, October 29, 2014 9:12 AM To: Kelsey Gormley Subject:
RE: Follow Up
Just spoke to Ruben.
The short of it is that the underwriters are “seeing” that the City is not financially healthy and the enterprise fund as well. I understand that the enterprise fund is in fact very healthy, so can you help by having the City provide information on the enterprise fund so that the underwriters see this correctly?
Ruben mentioned that he really wants this to work through iBank and that we just need the underwriters to see this correctly, however he mentioned other sources where he felt he could get this financed. He will be providing additional information to you on these other programs so that we can work concurrently.
I shared with him that all options are on the table at this point and that our BIG concern is timing and that this project is slated for the first Council meeting in December for the project itself and that the financing needs to match up with the schedule to not lose the CSI grant amount.
He wasn’t available at 11:30 so I had a quick chat, I hope you don’t mind.
Thanks Kelsey,
Rebecca
From: “Kelsey Gormley” <
Ke*****@be***********.com
>
Subject: I-Bank Follow Up
Date: October 29, 2014 at 12:19:25 PM PDT
To: “Alan Kapanicas” <
ak********@ci.us
>
Cc: “Bill Aylward” <
ba******@ci.us
>
Alan,
I think it would be really beneficial if you, Bill, and I got on the phone with Ruben and discussed his concerns with the sewer enterprise fund that were brought up by the underwriters. Would you be willing to do that and if so, can we schedule it for later this week or early next?
Thank you,
Kelsey