FERC approves revised boundary for Lake of the Ozarks
The new boundary line was proposed by Ameren UE, the project licensee. It generally follows the 662 foot elevation except in some upstream areas where it follows higher elevations. The boundary of about 43 percent of the shoreline is already at 662 feet and would remain unchanged, except for carve-outs to ensure that existing residential and commercial structures are outside of the project boundary.
The proposal recently approved was submitted to FERC on January 31, 2012. The Commission established a 30-day comment period seeking public comment on Ameren's proposal. All comments received were reviewed and are addressed in this recent decision.
This recent action stems from a requirement that Ameren develop a Shoreline Management Plan for the Osage Project. Shoreline management is a longstanding FERC initiative intended to protect the shoreline around all hydroelectric project reservoirs. A Shoreline Management Plan manages the multiple resources and uses of a project's shorelines. Striking a balance between local economic interests and protecting environmental resources allows the public to enjoy those resources, and is vital for the long-term success of a Shoreline Management Plan.
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Under the terms of the agreement, the CIB will invest up to $655 million or up to 40% of the project cost. ITC, a subsidiary of Fortis Inc., and private sector lenders will invest up to $1.05 billion, the balance of the project's capital cost.
The CIB and ITC Investment Holdings signed an agreement in principle to invest $1.7B in the Lake Erie Connector project.
The Lake Erie Connector is a proposed 117 kilometre underwater…