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The City's representative Project attorney, Vranesh and Raish, LLP, has provided a <br />memorandum with more detailed information included as an attachment to this communication. <br />January 51h was the first Windy Gap Participants Meeting of 2021. As suggested in the Vranesh <br />and Raish memorandum, during this meeting Northern expressed the desire to move as quickly <br />as possible to avoid costly construction delays while at the same time conveying caution of <br />taking action prior to the appeal deadline. Temporary funding options were discussed in more <br />detail but formal action was reserved for the 2/9 Special Windy Gap Participants Meeting. <br />In addition, the prior Utility Committee memo for the October 13th Utility Committee Meeting is <br />included for reference regarding finance options and recommendations. With the prompt <br />dismissal of the lawsuit, the information contained in this memorandum remains the best <br />available and is the most comprehensive work product regarding financing options and <br />recommendations. <br />Collectively staff continue to support the October 131h recommendation of moving forward on <br />the Windy Gap Firming Project by participating in the Group Financing at the 20-year term <br />without a down payment. This recommendation remains consistent with the discussion at the <br />previous Utility and City Council meetings on the WGFP financing and associated attached <br />materials. Staff is happy to answer questions or review any previous or new materials, as timing <br />is dynamic and there are also new Finance Committee members that may not have participated in <br />previous discussions. <br />12 <br />