Did CVEC Put Broadway Electric, Under?

 Did CVEC Put Broadway Electric, Under?  
All documents may be accessed here:

https://www.dropbox.com/sh/cwm8qmscf84c15l/lsGctSIEQY


To: All Interested Parties

Please see below and attached information concerning CVEC's recent discussions with the DOER concerning an extension of the deadline for completion of CVEC's PV projects based upon CVEC's claim of "Force Majeure.

Please note that there is considerable new information in these documents including the following:

1. According to an "Update" that CVEC provided to at least some CVEC Directors and Host Towns on January 23, 2014, CVEC authorized the "assignment" of most, or all, of the Broadway projects to two new parties -- G&S Solar Installers and RNK Capital in November of 2013.

2. It therefore appears that Broadway, Rockland Capital, Key Bank and Deutsche Bank -- all of CVEC's former partners -- were all essentially out of the picture as long ago as last November.  IT is not clear how much of this material information, if any, CVEC management communicated to the CVEC Board of Directors or to CVEC Municipal Members in November.   It is not clear how much of this information that CVEC representatives and CVEC counsel communicated to DOER.

One thing that is clear is that CVEC communicated NONE of this information to the general public or, so it seems, to its financial benefactor, the Governing Board of the Cape Light Compact.

3. According to Affadavits and other documents provided to DOER as part of the RPS Qualification process, Notice was provided to DOER prior to year end that a new entity, SunRay, is the new Authorized Agent and Owner of the projects.

4. According to documents provided by DOER, including a letter that Broadway sent to creditors and employees sometime in January, Broadway blamed the demise of the 77 year old company, at least in part, upon starting a new business -- the PV business through Broadway Renewable Strategies (which was doing the CVEC projects) and to extraordinary delays, expenses and slow payment for a single large group of projects -- which sounds very much like a description of the CVEC projects. 

5. Since documents clearly indicate that Broadway had transferred ownership of projects in November / December; that SunRay stepped in as Contractor on at least some projects as long ago as December (if not earlier); and that CVEC knew about it; it is not clear why the demise of Broadway should have mattered, let alone been appropriate grounds for a claim of Force Majeure.

5. According to documents provided by DOER, conversations between DOER and CVEC on the CVEC / Broadway crisis were initiated when DOER Commissioner Mark Sylvia called Maggie Downey to discuss the matter.  After speaking to Downey, Sylvia asked DOER legal counsel and the RPS Solar Coordinator to set up a conference call with Downey and CVEC Counsel, BCK Law. 

Since Downey officially relinquished all of her responsibilities at CVEC in May of 2013, it is not clear why all parties considered it proper for Ms. Downey to represent CVEC in these discussions with DOER.

It is also not clear to what extent Downey, as CLC Compact Administrator, has communicated her role in this matter to the Compact Governing Board, or if the Board has approved of her actions, especially since, as CVEC minutes of 1/16/2014 clearly state, CVEC is preparing to approach the Cape Light Compact to ask for additional funds.

6. Note that although Bibler made his original request for information from DOER on January 31, formalized this request on February 6th, and reiterated the request for information several additional times, DOER did not provide any documents or information to Bibler until after negotiations with DOER were concluded, the Force Majeure extension was granted by Sylvia, and CVEC had issued a press release on March 14th.

7. Note that Downey informed DOER that Assembly Resolution 13-06 requesting an investigation by the AGO and the OIG was "invalid and therefore non-existent."  

Apparently, Ms. Downey believes that since the Barnstable County Commissioners voted to "disapprove" Resolution 13-06 -- after the Chairman of the County Commissioners invited Ms. Downey to provide a list of reasons for disapproval of an investigation of the two agencies that she heads -- that this has put an end to the matter so far as the AGO and the OIG are concerned.  According to Ms. Downey, Resolution 13-06 is now "non-existent."    Poof! 

8. Please note that it appears that the DOER has not yet granted any other extensions to the deadline for any other Broadway Electric projects, although there must assuredly be other towns (such as Lenox and Lee) that have an interest in pursuing a claim.