Wednesday, December 12, 2018
Text Size
image image image
Jingle Bell Square Events Tuesday, 27 November 2018 21:43

The 2nd Annual Jingle Bell Trail, circling the Jackson County Square is preparing to open.

Read the Full Story
PENV still interested in Bellefonte site Tuesday, 13 November 2018 20:42

            Mr. Michael Dooley, managing partner and chief engineer of Phoenix Energy of Nevada,LLC (PENV), says, “There are other better, less expensive, safer, less toxic waste polluting, cleaner and more financially viable options for the expansion, build out / build up, completion and use of the TVA Bellefonte Site than to try to complete this Property Site as a 2019 state of the art design and codes compliant nuclear powered electric power generation plant facility.”

Read the Full Story
Still serving his community Tuesday, 06 November 2018 19:50

Scottsboro native  Raymond Brandon currently spends his days serving the community he grew up and raised his children in.

Read the Full Story

Daily Chess

Please click the image or the link below to play our game of Daily Chess.

Daily Crossword

Please click the image or the link below to play our Daily Crossword puzzle.

Daily Sudoku

Please click the image or the link below to play our game of Daily Sudoku.


            The deal between TVA and the sale of Bellefonte Nuclear Plant to Franklin Haney and Nuclear Development is off.

            TVA spokesperson, Jim Hopson, said today, “On Nov. 30, 2018, the parties were unable to complete the sale of the Bellefonte property after Nuclear Development’s lack of progress in meeting its legal obligations related to future ownership of the site. Nuclear Development did not complete the necessary NRC license transfer prior to the closing date as required by the Atomic Energy Act. TVA declined to provide a contract extension beyond the nearly 25 months already provided due to Nuclear Development’s lack of diligence in completing these required activities. We remain committed to returning the Bellefonte property to productive use to benefit the residents of northeastern Alabama as soon as possible.”

            Haney and Nuclear Development, LLC filed a civil suit in U.S. Court against TVA soon after TVA announced the deal was off. Nuclear Development claims it paid $22.2 million as a 20 percent down payment toward the purchase price of $111 million for the Bellefonte property. Nuclear Development further claims it paid $750,000 to compensate TVA for certain sales and administrative costs and $875,000 quarterly from the date of the contract for a total of $7,144,231 for TVA’s continued maintenance of the Bellefonte site assets.

            Nuclear Development requested an extension of the closing date to May 14, 2019 in order to complete certain activities for an orderly closing but TVA did not agree to the request. Nuclear Development further claims that on November 13, 2018, it applied to the Nuclear Regulatory Commission (NRC) for approval of the transfer of two deferred construction permits (CPPR-122 and -123) previously issued by the NRC to TVA to finish constructing the nuclear facility at Bellefonte.

            According to the suit, TVA opined that under Section 101 of the Atomic Energy Act, that the Nuclear Regulatory Commission must approve the transfer of the permits to Nuclear Development before TVA may transfer the site to Nuclear Development. Nuclear Development claims by that time it had spent $30,094,231 under the contract and expended additional millions of dollars in engineering, consulting and regulatory fees all in reliance upon closing the transaction as contracted. Nuclear Development claims the transfer of permits was not a prerequisite to closing under the contract.

            Nuclear Development claimed that it was ready to tender the full balance of the purchase price in the amount of $91,643,130 to TVA subject to TVA’s execution and delivery of the transaction documents on November 30 but TVA refused to deliver the documents.
Nuclear Development is claiming Breach of Contract and asks the court to award it all court costs, attorneys’ fees and pre-judgment interest rate of 6 percent per annum calculated on the full purchase price from the date of TVA’s breach of contract. Nuclear Development has asked the court to issue an injunction against TVA requiring TVA to maintain the status quo and require TVA to continue to maintain and provide security for the Bellefonte property assets so the NRC permits will not lapse or be terminated. Nuclear Development seeks damages to be paid by TVA of more than $30 million including the down payment of $22.2 million, the $750,000 administrative costs, the $7.1 million maintenance costs, and reimbursement of millions of dollars in engineering and consulting costs.

Upcoming Events

No events

Like The Clarion on FB!

Summer Business Guide

© The Clarion - 2018

Designed and maintained by Aldrich Publishing, LLC.
All rights reserved. All articles, photographs and other content are property of The Clarion Newspaper. Do not reproduce or copy without permission.