Shores inks FPL franchise deal
January 6, 2012
By Taylor Ashley
Without discussion, council members have signed another 30-year franchise agreement with Florida Power & Light.
The current agreement written in 1982 ends Jan. 28. The council voted on first reading Dec. 13 to accept the new agreement, which is more detailed than the previous one and includes the undergrounding of utilities according to city attorney Lonnie Groot.
The rate structure is the same as the other surrounding cities. According to finance director Stephen Whitmer, the city can expect to receive estimated franchise revenues between $550,000 to $650,000 annually.
View the rest of the Daytona Beach News Journal article here.