Feedback: LeRay Board Changes Mind, Approves Deal For Energy Plant
The LeRay town board reversed course Friday afternoon, unanimously approving a tax break for an energy plant on Fort Drum.
Earlier this month, the board voted 3-2 against the tax agreement.
The vote Friday is "very important to us for establishing the firm foundation financially for the project to move forward," said Larry Richardson, chief perating officer of Re-Energy, the company doing the project.
As originally put together, the tax break would have also had the effect of taking sales tax money from the town. That changes under the terms agreed to Friday.
The deal will "compensate us for sales tax revenue loss. I, for one, am very pleased - they put together a good package," said Ron Taylor, town supervisor.
All told, the town will get $48,500 a year over five years.
The deal is "a bit unusual, but (it) certainly addressed the concerns of the town and really mitigates the impact of the last sales tax revenue," said Richardson.
ReEnergy plans to start modifying the plant by the end of next month, with the goal of starting production by next spring.
Saturday, May 18, 2013, Watertown, NY
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