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Council authorizes valuation and special counsel to explore sale or merger of Lamar Light & Power
Summary
The council directed staff to continue engagement with special counsel and to seek a $17,500 appraisal (city share $8,750) to evaluate a potential sale or merger of Lamar Light & Power with Southeast Colorado Power Association, noting any sale would ultimately be decided by voters.
Mayor Eric Kirk Crespo reminded council members that earlier exploratory talks with Southeast Colorado Power Association (SCCPA) proposed possible rate reductions and program benefits if the utility were combined with regional customers. Councilors emphasized transparency and said any transaction would ultimately be subject to a public ballot.
Councilor supporters noted possible benefits such as access to SCCPA rebate programs, net metering for solar customers, and financing options. Council members also asked for comprehensive independent analysis, including a neutral special-counsel review and an asset valuation before any binding step.
The council approved a motion directing staff to continue engaging special counsel to evaluate the merits of a potential sale or transfer and to request a contract for the $17,500 valuation, with the city’s half-share estimated at $8,750. Staff will present the appraisal contract and scope for council approval at a future meeting if the contract meets legal and procurement review.
The council made clear that the appraisal and counsel work are exploratory. Any ultimate sale would require additional approvals and likely a ballot question put to Lamar voters.
Provenance: Topic introduced in SEG 1539 and discussed through SEG 1876.
