GAINESVILLE, FL , Dec. 21, 2012 (Local News) -
The City Commission on Thursday unanimously voted to file for arbitration against the Gainesville Renewable Energy Center, saying that the late 2011 sale of a 40 percent stake in the biomass plant constituted a control of ownership that should have triggered the city's contractual right of first refusal to make an offer to buy.
At arbitration, the city would seek to require GREC to fulfill the contractual obligation to give the city an opportunity to make an offer to purchase a controlling interest in the plant.
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This article originally appeared on woodbiomass.com:
Gainesville City Commission sues to gain controlling interest of biomass power plant [From the web]