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Commission approves engagement letter with London Whitty to support Prometheus Energetics incentive structure
Summary
The commission approved an engagement letter with London Whitty related to an unfunded bond arrangement for Prometheus Energetics; the approval was subject to a minor correction and carried 4–0.
The Greene County Redevelopment Commission voted 4–0 to approve an engagement letter with London Whitty that outlines legal services in support of a proposed tax-remission incentive for Prometheus Energetics.
Marvin (last name not specified in the transcript), addressing the commission, circulated the engagement letter and described the planned structure: an unfunded bond-like arrangement to remit a portion of real and personal property tax receipts to Prometheus over a multi-year period. Marvin said the arrangement would be documented and secured by a bond…
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