Annual Market Value Appraisals

Location: Jacksonville, Fla.

Client: Cedar Bay Generating Plant Facility

Burns & McDonnell performs annual market value appraisals of the Cedar Bay Generating Plant Facility, as required by the client's power purchase agreement with its customer, to ensure that the current value exceeds all secured obligations outstanding.

The plant is a 250-MW coal-fired cogeneration plant constructed on the site of the Smurfit-Stone Container Corp. paper mill in Jacksonville, Fla. Since 1995, Burns & McDonnell has completed the annual appraisal of the facility. The purpose of the appraisal is to ensure plant's fair market value is in excess of certain identified costs as defined in the power purchase agreement.