Frank Richards
19:53 - 20:43
“If Glenfarm decides to abandon the project, we do so with no recourse. And that is a very important characterization of how this has been set up.”
- Speaker
- Frank Richards
- Timestamp
- 19:53 – 20:43
- Transcript
- Alaska Legislature: JHB381-260626-1400
- Community
- Alaska News
- Location
- Alaska
- Captured at
From the transcript
If Glenfarm decides to abandon the project, we do so with no recourse. And that is a very important characterization of how this has been set up. One thing, Chair Tsurugi, again, Frank Richards for the record. One thing that I would add to my colleagues is that it was important from AGDC's perspective to allow the opportunity for the state with a callback position, but it didn't obligate the state to pay it. It would be something that we— if it was exercised, we would come back to the legislature to ask if they wanted to go forward with the opportunity to pay this, or we have the opportunity then to be able to look to the open market to bring in another developer to be able to take on that expense and take on those responsibilities that that Glenfarm is now doing.
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