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first_imgBurlington, Monday, February 7, 2005 – City Market, Onion River Coop presented the Committee on Temporary Shelter (COTS) with a large check in the amount of $3,719 from funds raised through the sale of Christmas trees this past holiday season.$222 of the money raised was matched through a new Neighbor to Neighbor program through Shurfine, a conventional grocery supplier to City Market. Shurfine gives City Market credit, which accrues over time. City Market can then use the money as matching funds for their own efforts. The Trees for COTS project meets the criteria for the matching funds program.Cumulatively, over the past 7 years, City Market has raised a total of $15,780 for COTS, through the Trees for COTS program. All proceeds are used to provide shelter and services to Vermonts homeless families and individuals.ADDITIONAL NOTES:City Market is searching for a new tree farmer for the Trees for COTS program for more information, please contact Jodi Harrington, City Market, 863-3659Since 1982 COTS has been providing emergency shelter, services, and housing for people who are without homes or who are marginally housed. Each year COTS serves 1,600 homeless children, women and men through nine locations in Burlington, VT.WHO COTS SERVED IN 2004:” Waystation: 487 people served, 9,589 bednights Average of 29 per night” Daystation: 781 people served, 19,149 sign-ins Average of 52 per day” Case Management Services provided service to 675 individuals” Family Shelters and Family Services (includes all people who stayed in shelters and people not in shelter who worked with our case managers): 137 families for a total of 411 persons (adults and children).” COTS housed 56 families and 86 individuals in 2004.###last_img read more

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Navajo company to buy bankrupt Cloud Peak coal mines in Wyoming

first_imgNavajo company to buy bankrupt Cloud Peak coal mines in Wyoming FacebookTwitterLinkedInEmailPrint分享Gillette News Record:Cloud Peak Energy Corp., one of the Powder River Basin’s largest coal mine operators, has accepted a bid from Navajo Transitional Energy Co. to buy “substantially all of Cloud Peak Energy’s assets.” Cloud Peak announced the sale Friday, which will be considered for approval by the U.S. Bankruptcy Court on Monday.Navajo Transitional Energy has agreed to buy the company’s Antelope and Cordero Rojo mines in Campbell County, along with the Spring Creek mine in southern Montana, according to a Cloud Peak statement announcing the winning bidder. Navajo also will own the Sequatchie Valley reclamation project.Navajo has agreed to pay a cash deposit of $15.7 million when the sale closes and assume a $40 million second lien promissory note and five-year royalty on future tons of coal produced at the PRB mines. Navajo also will pay up to $20 million in post-petition debts accrued during the bankruptcy process. The company also has agreed to assume pre- and post-petition federal, state and local tax liabilities for the company, make state and federal royalty payments and assume all reclamation obligations.While it’s unknown what Navajo Transitional’s plans are for the PRB mines, that it bought all three operational properties and that the deal includes royalties based on future production, “[What] they’re saying is they’re assuming they can operate them and generate enough cash flow to make those commitments,” said Rob Godby, director of the Center for Energy Economics and Public Policy at the University of Wyoming College of Business.Because the Navajo Nation governs itself, it also could have some tax advantages as operator of the mines, which could make them more competitive, he said. “One of the things about the Navajo bid is they probably have favorable tax status for Native corporations,” he said. “What they’re potentially looking at having there is an interesting proposition. The bottom line is they assume they can make cash flow there, so that may replace some of the earnings they’ll lose on the Navajo power plant.”More: Cloud Peak has buyer for PRB mineslast_img read more

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