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UTILITY BOARD APPROVES SELLING 99-YEAR LEASE ON STEAM PLANT AFFORDABLE HOUSING UNITS

08/17/2004 ~ The Utility Board authorized Keys Energy Services (KEYS) General Manager & CEO, Carl Jansen, to write a letter to developer Edwin O. Swift III affirming the Board’s support of selling, instead of renting, the affordable housing units of the Steam Plant Redevelopment Project.

Like the market rate condos, buyers of the affordable housing units would actually purchase a 99-year lease in order for the Utility Board to retain ownership of the property.

The developer previously indicated to the Board that he felt it would be better to sell the 99-year leases on the affordable housing units versus renting them. He stated that a person who owns a given unit has more incentive to take pride in their home.

The Utility Board also approved KEYS’ 2004/2005 Budget & Financial Plan. KEYS fiscal year budget will be $83.8 million. The budget includes $71.2 million for operations and maintenance, of which $48.2 million is directly related to energy costs and $11.5 million is allotted for payroll related expenses. KEYS has allocated approximately $5.2 million of the budget for Capital Projects including upgrading the Key West Diesel Transformer, replacing various 138 kV insulators, and upgrading KEYS phone system.

In other business, the Board:

- Approved the third contract extension with First State Bank, for
banking services, for the period, October 1, 2004, to September 30, 2005.

- Approved resolution #721 endorsing the proposed location for an Assisted Living Facility (ALF) at a portion of the Key West Diesel Plant & Substation at Angela Street, pending the land use study scheduled for completion in Fiscal 2005.

- Approved resolution #722 for a voluntary KEYS Cares Program, and the associated guidelines, that would allow KEYS customers to pledge dollar increments on their monthly electric bill, pool the amounts collected, and give them to the United Way to support social services in the Lower Keys.

- Awarded the bid for the perimeter fencing at KEYS’ Stock Island Generating Facility (SIGF) to Florida Fence Corp., in the amount of $80,388.00, their bid being the best bid complying with specifications.

- Awarded the bid for security services for KEYS’ SIGF to Diamond Detective Agency, Inc., at the hourly rate of $13.39, their bid being the best bid complying with specifications.

The regular meeting of the Utility Board took place at 5:00 p.m., August 11th, in the Louis Carbonell Board Room of the William Arnold Service Building, 1001 James Street, Key West.

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