Nick Halter

Crown Hydro pulls proposal after tweaks by Park Board

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Crown Hydro told the Minneapolis Park and Recreation Board on May 30 not to bother voting on a letter of intent that would have allowed an unknown investor to buy the hydroelectric project and partner with the Park Board to operate the facility.
 
Crown Hydro attorney Todd Guerrero said the Park Board and Crown Hydro had together drafted a letter of intent on May 13. But on May 16 — 48 hours before the Park Board was set to vote on the letter — Park Board attorneys made substantial changes to the document that made the project commercially unreasonable, Guerrero said.

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