Friday, November 15, 2019
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Porter addresses county billing Thursday, 14 November 2019 19:43

During reports at the last Jackson County Commission work session held on November 4, 2019, County Attorney John Porter clarified the answer to a question that was asked of the Commission during the Town Hall meeting held by the Legislative Delegation on October 7th of this year.

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Council fills board vacancies Thursday, 14 November 2019 19:41

Appointments were made and vacancies were filled at the last Scottsboro City Council work session and regular meeting held on November 4, 2019.

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Mistletoe Market set for Nov. 22-24 Thursday, 14 November 2019 19:36

Scottsboro Woman’s League’s Mistletoe Market is a great way to get in the Christmas spirit and get a start on gift shopping or just find a few things for yourself. Mistletoe Market is an upscale Christmas marketplace with vendors from across the Southeast held at Goose Pond Civic Center, Nov. 22-24.

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            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.

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