Presentation to the Presentation to the BOEM Virginia BOEM Virginia Renewable Energy Renewable Energy Task Force Task Force Draft Proposed Sale Draft Proposed Sale Notice Notice June 5, 2012 June 5, 2012 1 1
PSNs 101 PSNs 101 Competitive Process Competitive Process Components of a PSN Components of a PSN NOA of a PSN (FRN) NOA of a PSN (FRN) Draft PSN Draft PSN Draft Lease Draft Lease Bidder’s Financial Form Bidder’s Financial Form Auction Rulebook (if available) Auction Rulebook (if available) PSN Draft Walkthrough PSN Draft Walkthrough 2
The Competitive Process The Competitive Process Call for Information Call for Information Proposed Sale Notice Proposed Sale Notice We are here. 60-day Comment Period 60-day Comment Period Final Sale Notice Final Sale Notice 30-day Waiting Period 30-day Waiting Period Auction Auction 30-day DOJ/FTC Review 30-day DOJ/FTC Review Send blank leases to winner Send blank leases to winner Winner has 10 days to sign, file financial assurance, Winner has 10 days to sign, file financial assurance, and pay balance of auction bids. and pay balance of auction bids. BOEM signs BOEM signs 3
The Proposed Sale Notice The Proposed Sale Notice The Federal Register Notice itself may consist of a Notice of Availability The Federal Register Notice itself may consist of a Notice of Availability directing the reader to BOEM’s web site where all materials will be made directing the reader to BOEM’s web site where all materials will be made available. (“The PSN and FSN will include, or describe the availability of , available. (“The PSN and FSN will include, or describe the availability of , information pertaining to…” information pertaining to…” 30 CFR 585.216: Elements of a PSN 30 CFR 585.216: Elements of a PSN The area available for leasing The area available for leasing Lease provisions and conditions (term, payment terms, site-specific Lease provisions and conditions (term, payment terms, site-specific stipulations, environmental conditions, etc.) stipulations, environmental conditions, etc.) Auction details (bidding procedures and systems, minimum bids, bid Auction details (bidding procedures and systems, minimum bids, bid deposits, place and time of the auction, etc.) deposits, place and time of the auction, etc.) The lease form The lease form Criteria BOEM will use to evaluate bids Criteria BOEM will use to evaluate bids Award procedures Award procedures Appeal procedures Appeal procedures 4
Components of the Components of the Proposed Sale Notice Proposed Sale Notice Notice of Availability (the Federal Register Notice of Availability (the Federal Register Notice) Notice) The Proposed Sale Notice The Proposed Sale Notice The Lease Form The Lease Form Lease Form, Addenda A-D Lease Form, Addenda A-D Will allow bidders to see what they are Will allow bidders to see what they are bidding on, in context. bidding on, in context. Bidder’s Financial Form Bidder’s Financial Form 5
Sections of the Draft PSN Sections of the Draft PSN Title: Question—should we assign a “Sale Number”? Title: Question—should we assign a “Sale Number”? Summary Summary Dates (for comments and completion of qualifications) Dates (for comments and completion of qualifications) Addresses, Further Information, Authority Addresses, Further Information, Authority Background Background Financial Terms and Conditions Financial Terms and Conditions Place and Time Place and Time Mock Auction—preferred location? Mock Auction—preferred location? 6
Sections of the Main PSN Document Sections of the Main PSN Document (continued) (continued) Bid Deposits Bid Deposits Area offered for Leasing Area offered for Leasing Division into Lots Division into Lots The area will be auctioned as a single lot. This will simplify the auction. The area will be auctioned as a single lot. This will simplify the auction. Withdrawal of Blocks Withdrawal of Blocks Lease Terms and Conditions: Most were developed during the Lease Terms and Conditions: Most were developed during the EA preparation, and will be similar in other mid-Atlantic states. EA preparation, and will be similar in other mid-Atlantic states. 7
Sections of the Draft PSN Sections of the Draft PSN (continued) (continued) Qualifications: Deadline to submit materials is end of comment period. Qualifications: Deadline to submit materials is end of comment period. Auction Procedures: Greg Adams will cover this in his presentation. Auction Procedures: Greg Adams will cover this in his presentation. Public Seminar: Location preference? To be held during the comment Public Seminar: Location preference? To be held during the comment period. period. Acceptance, Rejection, or Return of Bids Acceptance, Rejection, or Return of Bids Steps between Auction and Issuance of Leases Steps between Auction and Issuance of Leases 30-day DOJ antitrust review 30-day DOJ antitrust review Send leases to winners Send leases to winners Winners have 10 days to: Winners have 10 days to: Sign Sign File Financial Assurance File Financial Assurance Pay balance owed to BOEM Pay balance owed to BOEM BOEM signs lease. BOEM signs lease. 8
Sections of the Draft PSN Sections of the Draft PSN (continued) (continued) Anti-Competitive Behavior: Anti-Competitive Behavior: Reminder of antitrust laws. Reminder of antitrust laws. DOJ/FTC review period DOJ/FTC review period Post-Auction Certification Post-Auction Certification Anticompetitive bidding behavior Anticompetitive bidding behavior Good faith effort Good faith effort Non-Procurement Debarment and Suspension Regulations Non-Procurement Debarment and Suspension Regulations Force Majeure Force Majeure Appeals Appeals 9
Review and Discussion Review and Discussion 10 10
Questions and Comments Questions and Comments Wright Frank Wright Frank 703-787-1325 703-787-1325 Wright.Frank@boem.gov Wright.Frank@boem.gov Erin Trager Erin Trager 703-787-1713 703-787-1713 Erin.Trager@boem.gov Erin.Trager@boem.gov 11 11
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