CRA gives tentative approval to estoppel form sought by Green River Energy Center lenders

The Emery County Community Reinvestment Agency reviewed and gave tentative approval on April 15 to an estoppel-certificate form requested by lenders involved with the Green River Energy Center project.

CRA staff (S2) explained lenders asked for a certificate confirming prior agency actions and agreements are binding so financing can close. S4 described the document as "an agreement saying that the previous agreements are binding." Board members asked whether the estoppel would prevent transfers of the project or otherwise limit future decisions; staff and other members said the form affirms prior actions and provides lenders the assurance they need but does not itself transfer ownership.

S6 moved to approve the estoppel-certificate form. During discussion the board amended the motion to give tentative approval of the form’s substance and to reserve final signing for a formal lender request expected in September. The board approved the amended motion; staff said the agency would revisit and sign the certificate only when the lenders formally request it and the signature page is ready.

Board members emphasized they were approving the content of the form, not executing a signed certificate that would be delivered immediately. The motion gives the developer and potential lenders confidence that the agency is comfortable with the form while preserving the board’s ability to review final signature pages and any last-minute changes when formally requested.