The Winfield City Commission will consider a partnership with an electric transmission company Monday that would help the city invest in new transmission projects.
Commissioners will consider approving a non-binding letter of agreement with GridLiance, of Irving, Texas, regarding possible development and purchase of a portion of the city’s electric transmission assets. If approved, the transaction would close in summer 2019.
GridLiance would pay the city $1.2 million at closing, plus make annual community support payments to the city totaling $880,000 over 15 years, with no stipulations on their use. The city would also earn annual revenue from GridLiance.
The City of Winfield will agree to provide operations and maintenance of the transmission system and a transmission upgrade project.
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