DATE: February 22, 2022
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Reclamation Agreement and Road Repair Agreements with Fifth Standard Solar PV, LLC, to implement Project Mitigation Measures and Conditions of Approval of Unclassified Conditional Use Permit Nos. 3562 and 3564 which permitted the development, operation and reclamation of a solar energy collection and storage facility
RECOMMENDED ACTION(S):
TITLE
1. Approve and authorize Chairman to execute a 35-year Reclamation Agreement with Fifth Standard Solar PV, LLC, the project applicant (the Applicant), to implement project mitigation measures and specific conditions of approval placed on Unclassified Conditional Use Permit (CUP) Nos. 3562 and 3564 for the first phase of a two-phase solar photovoltaic electricity generating and energy storage facility (the Project) initially on approximately 950 acres in the unincorporated area near the City of Huron;
2. Approve the proposed unexecuted form of an Irrevocable Standby Letter of Credit initially in the amount of $6,368,598.50 (Letter of Credit) to be issued by Sumitomo Mitsui Banking Corporation, New York Branch (SMBC, New York Branch), as security to the County for the Reclamation Agreement for up to a total of seven years, and the proposed unexecuted form of an Incumbency Certificate of the Director and Associate General Counsel, Americas Division Sumitomo Mitsui Banking Corporation (Incumbency Certificate), certifying the authorization of the authorized officer who will execute the Letter of Credit;
3. Authorize the Director of the Department of Public Works and Planning or his/her designee (Director) to accept the Letter of Credit to be executed and issued by SMBC, New York Branch (and any amendment that may extend the term of the Letter of Credit), and the Incumbency Certificate to be executed by the Director and Associate General Counsel, Americas Division Sumitomo Mitsui Bankin...
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