Stanly County Commissioners Endorse New White Paper

The Stanly County Board of Commissioners has announced the formal endorsement of a white paper addressing the need to recapture the Yadkin River from Alcoa, whose 50-year license to govern and sustain ownership of the water flowing from the Yadkin River is up for renewal this year. The paper, authored by Roger Dick, president/CEO and founder of Stanly County’s Uwharrie Capital Corporation as well as a member of the N.C. Water Rights Committee, is intended to serve as an information guide for North Carolina citizens, all whom are affected by the current water policy. Dick discusses the energy crisis concerning hydropower and how the federal licensing of public resources is affecting Stanly County and North Carolina. The proposed solution is the most environmentally friendly option, allowing the recapture of the Yadkin River from Alcoa and the use of this resource to the benefit of the citizens of the Yadkin Valley and the State of North Carolina.

Alcoa has filed an application with the Federal Energy Regulatory Commission (FERC) to obtain another 50-year license for the Narrows Dam on the Yadkin River in Stanly County. It received a previous one in 1958. If Alcoa is successful, one of North Carolina’s most valuable water resources will be used to maximize its profits instead of being used to benefit the people of North Carolina. Before the FERC decides on the application, the N.C. Division of Water Quality (DWQ) must rule on Alcoa’s application for a required 401 water quality certificate for the dam. Following a two-week public comment period where concerned citizens submitted claims of environmental hazards in connection with Alcoa’s operations, and facing a possible rejection from the DWQ in light of this development, the company withdrew its original application May 9 and offered a revised one in its place the same day. The DWQ decision is expected to take several months. In the meantime, the FERC has granted Alcoa a one-year extension of its present license.

The white paper is available for download at www.ncwaterrights.org/Info/Info003.aspx.

White Paper excerpt:
If Alcoa gets this license renewed, we North Carolinians will have to ask Alcoa for permission to use our own state’s public rivers. Not only will we have to ask permission, but we will have to pay for the privilege. Alcoa operates in more than 300 locations in 44 countries. Such a multinational corporation does not hold the best interests of drought-ridden North Carolina as a priority.

Related Links:
www.co.stanly.nc.us
www.ncwaterrights.org
http://h2o.enr.state.nc.us/
www.ncwaterrights.org/Info/Info003.aspx
www.uwharriecapitalcorp.com

News Facts:

• The Stanly County Board of Commissioners has announced the formal endorsement of a white paper addressing the need to recapture the Yadkin River from Alcoa, whose 50-year license to govern and sustain ownership of the water flowing from the Yadkin River is up for renewal this year.
• The paper, authored by Roger Dick, president/CEO and founder of Stanly County’s Uwharrie Capital Corporation as well as a member of the N.C. Water Rights Committee, is intended to serve as an information guide for North Carolina citizens, all whom are affected by the current water policy.
• Dick discusses the energy crisis concerning hydropower and how the federal licensing of public resources is affecting Stanly County and North Carolina.
• The proposed solution is the most environmentally friendly option, allowing the recapture of the Yadkin River from Alcoa and the use of this resource to the benefit of the citizens of the Yadkin Valley and the State of North Carolina.

Quotes:
"We highly recommend that everyone interested in learning the full details involving Alcoa’s operations on the Yadkin River read this excellent white paper," said Stanly County Commissioner Lindsey Dunevant. "The consequences of allowing a private multinational firm to profit from the exclusive use of a public resource such as the Yadkin for another 50 years are dire, not just for Stanly County but all of North Carolina. The white paper provides a great summation about the issues at stake in this fight and their impact on us and our children."

About Roger Dick:
Roger Dick is president/CEO and founder of Uwharrie Capital Corp, which is a bank holding company that owns three banks: Bank of Stanly, Cabarrus Bank & Trust Company, and Anson Bank & Trust Company along with Strategic Investment Advisors, Inc. Bank of Stanly owns a NASD-member securities brokerage, The Strategic Alliance Corp, and an insurance agency, BOS Agency, Inc. Roger holds an M.A. in finance from the University of North Carolina at Charlotte. He is a certified investment management analysis, a certification awarded by The Wharton School of the University of Pennsylvania, one of the world’s leading business schools. Roger is a former member of the North Carolina Banking Commission and is an active Board member of the Central Park of North Carolina. He has a deep understanding of the economic issues that affect North Carolina and, for more than 25 years, has been discussing the virtues of local control of capital and natural resources.

About N.C. Water Rights Committee:
The N.C. Water Rights Committee is a coalition of North Carolina businesses and concerned citizens who have joined this state-wide effort to inform citizens of the critical issues concerning water rights that affects all North Carolinians. For more information, visit www.ncwaterrights.org.

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC

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