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Lincoln County commissioners agree to pursue drafting agreements for Tri‑Sight coal‑to‑carbon proposal
Summary
Tri‑Sight LLC presented a plan to facilitate third‑party financing for a coal‑to‑carbon project that would involve a county guarantee of an approximately $5 million loan and a pledge of a 136‑acre parcel as collateral; commissioners agreed to move forward to draft agreements while county attorneys flagged legal and constitutional concerns.
Lincoln County commissioners on March 15 agreed to let staff and counsel begin drafting agreements after hearing a presentation from Tri‑Sight LLC on a proposed coal‑to‑carbon project that would pair private financing with a county‑pledged land collateral arrangement.
Brad Barham, president and chief strategy officer of Tri‑Sight LLC, told commissioners the firm is seeking county preapproval to proceed with negotiations for a financing package that would include a county guarantee of about $5 million related to construction financing. Barham said Tri‑Sight would pledge a 136‑acre parcel back to the county as security until the loan was paid. He described three project components: an administration/engineering office, a coal receiving site and a fertilizer operation that would produce coal‑derived humate fertilizer, which the company says can substitute for chemical fertilizers.
County Attorney Spencer Allred advised the commission that the proposal raised legal issues that would need review; he recommended consulting independent counsel and ensuring documentation addresses constitutional and county liability questions. Chairman King and Commissioner Hansen questioned the three‑year maximum term cited in the presentation and whether such a term could bind future commissions. Commissioner Harmon noted the proposal would require additional meetings and follow‑up.
Kent Connelly, a consultant who said he still works for a nearby firm, and Treasurer Jerry Greenfield offered market context, noting recent announcements in the area have affected land values and that comparable sales in the area were often private, limiting public comps.
No formal ordinance or final vote to enter into the financing was recorded; commissioners “agreed to move forward to the next step,” which the presenter said would include drafting documents and involving attorneys. The commission did not approve a binding guarantee at the meeting and directed staff to continue work on legal and financial details. The outcome leaves material questions — term, liability, and exact financing mechanics — to future meetings and counsel review.
Provenance: The presentation and commissioners' agreement to proceed were discussed in the March 15 meeting (topic introduced SEG 003; discussion continued into SEG 004).
