The Utah PermanentCommunity Impact Fund Board on April 6 said that they plan to over $50 million on an Oakland, Calif.,shipping port that would facilitate the export of the state's coal outside the troubledU.S. market, reported the Associated Press on April 7.
According tothe AP, the board plans to start a search for a potential financial consultant inMay. The consultant will work on the deal as well as review contracts and documentsfrom other investors who would bring in $200 million more to the project, the reportsaid.
The Utah and Gov. Gary Herberthad greenlighted the projectin March but green groups protestthat the use of public money to fund the deal is a misuse of said funds, said the AP.