September 21, 2021
Dear members,
As we indicated in our last communication, there are now three new potential buyers for the Hampden facility. At the same time, Delta Thermo Energy (DTE) continues to pursue financing and remains a potential buyer.
While this turn of events increases our optimism for completing a sale, we are also keenly aware of the approaching winter. The cooler weather brings increased heating and maintenance requirements that make it imperative a new owner for the plant be secured as soon as possible.
To keep all parties on task and encourage a timely transfer of ownership, the Board of Directors at today’s meeting unanimously adopted a resolution concluding that MRC, as landlord, may need to terminate the site lease held by Coastal Resources. As a Fundamental Matter under MRC Bylaws, the consideration of this action requires notice to members and a 30–45-day period for member review and response.
Since time is of the essence, MRC is issuing the Notice of Fundamental Matter today, so that if the Board determines a termination of lease is indeed necessary, the notice period already will have been met. Click here to view the notice. Each member will receive a hard copy of the notice later this week by certified mail.
Once again, we extend our sincere thanks for your support and patience through this process. In all of MRC’s efforts, we place the best interests of the Membership as our highest priority to ensure responsible and cost-effective management and disposal of member solid waste, and it is through this lens that we undertake this latest action. MRC’s strength and effectiveness has always relied on our ability to work collectively and stick together to achieve these common goals. Having the ability to terminate the site lease if circumstances warrant provides MRC an important tool to facilitate a timely sale, which will allow the Hampden facility to move into the next phase of its reopening.
We encourage you to read the Fundamental Matter notice closely and contact us with any questions you may have. We expect to hold another virtual member update within the next month once bids from the new potential buyers have been received and reviewed.
If you have any questions, please do not hesitate to reach out to MRC Executive Director Michael Carroll at (207) 664-1700 or [email protected].
