Guest Speakers: Dennis Dobbs, VP Enterprise Project Management, Engineering and Services Consumers Energy

Transcription

1 Guest Speakers: Dennis Dobbs, VP Enterprise Project Management, Engineering and Services Consumers Energy Tom McKittrick, President & Founder Forsite Development, Inc. Thursday, May 19 th, 2016

2 Next Steps for the JR Whiting Plant Dennis Dobbs Vice President of Enterprise Project Management, Engineering and Services

3 Proud Legacy of Service Operated Company record 679 consecutive days of operation Outstanding record of environmental stewardship and community service Whiting employees work on Turbine 3 in 1953.

4 Difficult Decision In December 2011, we announced plans to close our Classic Seven units: 3 units at Whiting 2 units at Cobb (Muskegon) 2 units at Weadock (near Bay City) Environmental regulations Market forces

5 Preparing for Change Began the decommissioning process to ready Whiting and the other plants for retirement Worked with impacted communities to reimagine their local economies Helped employees transition to new roles

6 Transition Period Plants were retired as planned in April 2016 All three sites are ready for: Abatement Dismantling Demolition

7 New Possibilities We ve selected Forsite Development, Inc., to acquire, demolish and redevelop the Whiting and Cobb sites Plan requires MPSC approval Forsite offers: A successful track record of repurposing industrial property A plan to improve the properties and return them to productive use

8 Repurposing the JR Whiting Site: A Vision for Luna Pier and the I-75 Corridor Tom McKittrick President, Forsite Development, Inc.

9 Forsite Development - Who We Are Based in Charlotte, NC, Forsite specializes in acquiring and redeveloping surplus industrial real estate We look to maximize heavy infrastructure in a manner to enable or create projects Environmentally responsible redevelopment is a central theme for each of our projects Since 2004, we have acquired and redeveloped over 7mm SF of industrial space covering over 3,000 acres We are committed to ensuring the JR Whiting site is developed to its highest and best use 9

10 Assets of the JR Whiting Site Extensive rail infrastructure: 360 rail car parking spots Rail infrastructure has great potential for a rail to truck trans load facility, which will benefit new and existing manufacturing operations and distribution centers. Interstate access is excellent-i-75 Corridor Site is well positioned between two metro areas Interconnection to the grid: Potential energy storage project 10

11 JR Whiting Site Development Challenges Actual buildable land area is very small Majority of the land area is encumbered by utility easements and closed ash basins Plant decommissioning will take approximately 2 years to complete Site is not served by municipal utilities 11

12 JR Whiting Redevelopment Vision 12

13 Our Phase I Vision for JR Whiting Site Our initial vision for the JR Whiting plant is to decommission the plant as quickly as possible. This work will take approximately 2 years. Marketing and pre-development activities will commence immediately. Forsite reviewing the potential to leave the turbine hall and overhead crane infrastructure in place. Potential to create a heavy rail maintenance facility. 13

14 Our Vision for Luna Pier Inland Trans Load Terminal Forsite will implement an extensive nationwide marketing campaign to market the site s extensive rail attributes to heavy industrial users and site selection consultants. Forsite is exploring the potential to construct a spec industrial facility on the site that could further help attract users to the site. Lack of municipal utilities will need to be addressed. 14

15 Charlotte Regional Trans Load Facility The facility, which is capable of 200,000 lifts annually, transfers containers between trucks and trains. The $92 million facility was constructed with the assistance of $15.7 million in federal funding and additional financial support from the State of North Carolina. 15

16 Thank you Appreciate the opportunity to share our vision. Look forward to partnering with Luna Pier and Monroe County on the establishment of a new Trans Load terminal for the long-term benefit of the community. 16

17 Next Steps MPSC review of acquisition agreement pending and expected by fall Continue community transition support to include alignment with Forsite to ensure smooth transition of ownership Questions?