Florida Power and Light officials yesterday submitted a letter of intent containing proposed terms for the sale of Vero Electric. Today, attorneys with the law firm of Carlton Fields, all of whom charge $480 per hour, today submitted an invoice to the City totaling $48,498.25 for work done through the end of March in helping preparing and review FPL’s offer.
Next Tuesday, the Council is to consider, and will likely vote to accept, FPL’s proposed terms. At that point the expensive work of hammering out a formal contract will begin. The previous purchase and sale agreement between Vero Beach and FPL expired at the end of last year. The City’s outside counsel charged more than $1 million to write that now defunct contract.