MassCEC- " The facility is not ours to sell."

The news media has reported for the last few years that the Massachusetts Clean Energy Center is the owner and operator of the New Bedford Ocean wind turbine port. Did they tell you the truth ? Who does own the facility ?

The bottom line : “ The facility is not ours to sell.”

Terminal Operator for the Marine Commerce Terminal in New Bedford Request for Proposals
http://www.masscec.com/solicitations/terminal-operator-marine-commerce-terminal-new-bedford-request-proposals

The following are a few audit questions about the New Bedford Marine Commerce Terminal (NBMCT).

Has your auditor provided a management letter in the past 3 years?
No

Are there any matters that require consideration in assessing the scope of this project over the proposed term? For example, any changes in the nature and scope of MASSCEC’s operations? Expectation of receipt of Federal awards that could change testing requirements for your A-133 audit? Debt issuances? Expectations for significant expansion of existing facilities or other capital projects in excess of routine maintenance of the facilities?
None

What are the expectations of the auditor in relation to bonds issued by MASSCEC? Do the underwriters typically require consent letters or to provide comfort letters associated with bond offering documents?
No bonds have been issued.

In the RFP, you make reference to the need for tax filings associated with this engagement. Can you be more specific in terms of what returns you need prepared as expectation is that MASSCEC itself should not be filing returns? If you can provide copies of those filings or at least indicate what returns you need to have prepared, would be helpful in defining the scope.
That was a generic coverall as there may be tax related questions from time to time. No tax filings are expected. MassCEC financial reports are rolled into the State of MA reporting. No 990-T is filed.

Are the Renewable Energy Contract Derivatives a legacy of older programs when the RETF was under the direction of the Massachusetts Technology Collaborative? Yes Do you continue to enter into additional such contracts? No the two new contracts since MTCF handled this are straight purchase contracts at a specific price. What methodology is utilized to value such contracts?
We receive futures pricing estimates form the service that handles the REC auctions and then value the contract obligation at present value.

In the RFP, it states that MASSCEC is managing the development of the New Bedford Marine Commerce Terminal (NBMCT). In looking at the financial statements, however, it appears that MASSCEC actually owns that assets which are being constructed.
The construction is funded by a grant from the State. MassCEC does not own the facility.

In the MD&A, you indicate that MASSCEC’s future role with NBMCT is yet to be determined. Is there an expectation that these assets will continue to be owned by MASSCEC or is their potential these will be sold? Any direction on possible roles would be helpful in assessing the scope of services under the contract.

The facility is not ours to sell. Management of the facility, when completed, may be transferred to another government agency.

http://www.masscec.com/content/audit-services-rfp-questions-and-answers