Will Utah give $20 million in public money to prop up bankrupt Oakland Coal Terminal?
The company behind the part of the Oakland Export Terminal that would deal with coal, Insight Terminal Solutions, is in bankruptcy court. They postponed their last hearing, claiming that Utah counties were going to bail them out with $20 million dollars.
This money could potentially come from the Utah legislature (looks like it won’t be discussed in the August special session) or through an application to the Community Impact Board (CIB) for use of Throughput Infrastructure Funds.
Articles and press releases:
Will Throwing John Siegel a $20 Million Lifeline Buy Utah a California Coal Terminal? – No Coal in Oakland. August 13, 2020.
Utah advocates call for block of $20 million bailout for bankrupt coal port company – Alliance for a Better Utah. August 13, 2020.
Utah coal counties pledge $20M in state money to help get Oakland port back on track – Brian Mafly, Salt Lake Tribune. July 5th 2020, updated July 17th, 2020.
Will Utah lawmakers bail out beleaguered coal-export terminal? – Brian Mafly, Salt Lake Tribune. August 11, 2020, updated August 12, 2020.