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Trust holds off on closure of Wind 2 loan
Credit: By RYAN BRAY | The Enterprise | November 26, 2015 | www.capenews.net ~~
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The Massachusetts Clean Water Trust notified town manager Julian M. Suso Tuesday that the entirety of the town’s loan on Wind 2 is still outstanding, and the town will have to pay interest as well as the principal, if it ceases operation of Wind 2.
The town borrowed $4,865,000 from the trust for the construction of Wind 2, the second of the town’s two wind turbines. The town submitted a project completion certificate to the Massachusetts Department of Environmental Protection in March 2013. However, a letter dated April 2, 2013, from the trust’s executive director, Susan E. Perez, said the trust would not sign off on completion of the project, if it is suggested that the turbine might stop operations.
The Falmouth Zoning Board of Appeals is currently weighing whether to issue a cease-and-desist order for Wind 2, similar to the one it issued to Wind 1 in September. Residents are appealing for the order, challenging a finding from building commissioner Eladio S. Gore that Wind 2 can continue operation while the town goes through the process of obtaining a special permit for the turbine.
In the same letter, the trust told selectmen that the town would owe full interest and principal on the loan if Wind 2 stops producing energy. Under the existing terms of the loan, the town owes zero percent interest as long as the turbine remains in operation. The letter also stated that any changes in the turbine’s operation would have to be approved by the trust and that the trust would not approve any request to make Wind 2 non-operational.
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