To the Editor and the citizens of Traer:
Alliant Energy - Interstate Power and Light (IPL) received an offer to purchase the natural gas system serving the City of Traer, Iowa earlier this month. While we continue to take issue with respect to the accuracy and completeness of the TMU's appraisal numbers, our primary concern is that a purchase of IPL's gas system is contrary to the current desire of Traer's citizens.
Accordingly, IPL has made a counteroffer to the TMU board to enter into a 20 year natural gas franchise agreement, including the ability to terminate the franchise at the end of the 10th year. This is the same franchise offer citizens petitioned for last year and voted for in March. IPL is prepared to meet with representatives of the City immediately and negotiate a franchise agreement that is acceptable to both parties.
IPL believes that its proposal represents the desires of the citizens of the City of Traer, since on March 3, 2009 the citizens voted 374 to 280 in favor of the proposed 20 year natural gas franchise. Not only is the March vote a clear indication of citizen support (with a 57 percent approval rate), it is also a more recent reflection of voter sentiment on the issue than any previous vote.
IPL looks forward to meeting with representatives from the city to begin negotiations on a new franchise agreement.
President, Interstate Power and Light