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2009-004 Solid Waste - UNC - Landfill Gas Agreement
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2009-004 Solid Waste - UNC - Landfill Gas Agreement
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Last modified
7/17/2015 9:42:53 AM
Creation date
7/29/2009 12:27:50 PM
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BOCC
Date
2/17/2009
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
4l
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Agenda - 02-17-2009 - 4l
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\Board of County Commissioners\BOCC Agendas\2000's\2009\Agenda - 02-17-2009
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generation of Carbon Credits or its achievement of other objectives for the LFG Project, <br />including in particular as they relate to the University's coimnitment under the American College <br />and University Presidents Climate Corrunitinent. If such alternative categorization of <br />Environmental Benefits would result in a greater overall value to the University and a greater <br />overall payment to the County than the County would receive if the Enviromnental Benefits were <br />solely categorized as Carbon Credits, and the University decides in a given month, in its sole <br />discretion, to monetize a portion or all of the Enviromnental Benefits in a mamzer other than as <br />Carbon Credits, the University shall pay to the County fifty percent (50%) of the proceeds <br />resulting from such monetization net of any costs the University incurs both in monetizing the <br />Enviromnental Benefits and replacing Carbon Credits that would otherwise have been generated <br />by the operation of the LFG Project, if any, but for the University's decision to monetize another <br />type of Enviromnental Benefit. Provided, however, that nothing in this Agreement shall obligate <br />the County to incur all or any portion of any costs that exceed any surplus proceeds resulting <br />from t11e monetization of any Enviromnental Benefits. In the event the University generates a <br />surplus in any month, it shall provide an accounting of the surplus revenue thus generated in the <br />Monthly Billing Statement and the monthly pa}nnent to the County shall be increased <br />accordingly. A sample calculation is provided in Exhibit G. <br />126. Notwithstanding anything contained herein to the contrary, the County shall have <br />the option, exercisable at any time and from time to time upon thirty (30) days' written notice to <br />the University, to purchase Carbon Credits from a third party and to exchange such Carbon <br />Credits, without any additional compensation, for an amount equal to up to fifteen percent (15%) <br />of the Carbon Credits generated by the LFG Project in a given month. The Carbon Credits <br />purchased from a third party for exchange must be eligible carbon offsets under aCap-and-Trade <br />41 <br />
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