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Emery County CRA gives tentative approval to estoppel-certificate form for Green River Energy Center financing
Summary
The Emery County Community Reinvestment Agency on April 15, 2025 reviewed and gave a time-limited approval to the content of an estoppel certificate form R Plus Energies will use to finish financing the Green River Energy Center LLC, with final signature to be sought when lenders request it.
The Emery County Community Reinvestment Agency on April 15, 2025 approved the content of an estoppel-certificate form that R Plus Energies plans to present to lenders financing the Green River Energy Center LLC, and amended the motion to grant 10-day tentative approval pending final consideration when the company returns with a signed certificate.
An agency attorney explained to board members that an estoppel certificate is a lender-requested document that confirms previous agency actions, certifies that agreements were properly executed and that neither party is currently in default. The document is intended to reassure lenders that the agency’s prior approvals remain binding while the project finishes arranging financing.
Board members asked whether the form would prevent ownership changes and whether it could limit the agency in other ways. Agency staff said the form “allows that to happen” and does not prevent transfers; it chiefly affirms the accuracy and enforceability of prior paperwork. Staff also noted the certificate provides lender contact information to assist the agency and lenders if a future breach or deficiency arises.
Members pressed about the signature page and timing. Staff said the agency was being asked only to approve the substance of the form now; the developer will return when lenders are ready and will ask the agency for a signature at that time. In response to board concern, the motion-maker amended the motion to provide a 10-day, tentative approval to allow the developer assurance while preserving the agency’s right to review a final, dated document when presented.
The board voted in favor of the amended motion granting 10-day tentative approval and noted that staff will bring the final, dated estoppel certificate back for signature when the developer requests it.
Votes at a glance - Motion: Approve form for estoppel certificate for Green River Energy Center LLC; amended to grant 10-day tentative approval pending final consideration. Outcome: Approved (tentative 10-day approval).
