Share “Hearing set on power plant tax payment...”

Hearing set on power plant tax payment proposal

Published on NewsOK Modified: September 2, 2014 at 2:01 am •  Published: September 2, 2014
Advertisement

NEWBURGH, N.Y. (AP) — The owners of a reopening Hudson Valley power plant are seeking approval of a payment in lieu of taxes agreement.

The Danskammer power plant in Newburgh is being converted from coal to natural gas. The owners say they'll save Hudson Valley ratepayers $100 million a year when it reopens in the fall.

The Poughkeepsie Journal (http://pojonews.co/1vBeaZO ) reports that Danskammer Energy wants the Orange County Industrial Development Agency to grant a payment in lieu of taxes, or PILOT, under which they'd pay Marlboro School District and others based on the current $15 million assessed value of the property for 10 years.

A public hearing on the matter is set for Wednesday morning in Newburgh Town Hall.

Danskammer sustained damage in Superstorm Sandy and has been dormant for two years.