Power Authority Supports North Country Communities with Annual Payment of $2 Million To Local Entities
December 16, 2009
FOR IMMEDIATE RELEASE
MASSENA—New York Power Authority (NYPA) President and Chief Executive Officer Richard M. Kessel today presented a $2 million ceremonial check to the St. Lawrence Local Government Task Force in support of communities and school districts within the boundary of NYPA’s St. Lawrence-Franklin D. Roosevelt Power Project. The latest Power Authority annual payment was made in connection with the project’s receipt of a federal operating license in 2003.
“The relicensing of the St. Lawrence project provided an opportunity for the Power Authority to work with local stakeholders and identify ways of enhancing the quality of life in Northern New York beyond the benefits provided by low-cost power allocations from the hydroelectric project, which helps secure jobs throughout the region,” Kessel said. “We are proud to know that this annual payment will deliver great benefits to the area.”
“We always appreciate receiving the $2 million that’s part of the relicensing settlement,” said St. Lawrence County Treasurer and Local Government Task Force Chairman Robert McNeil. “The schools use it for different educational programs. The towns and the villages use it for infrastructure purposes, as does the county. It’s a reliable source of revenue and we appreciate it.”
The funds are designated for the towns of Massena, Louisville and Waddington; the villages of Massena and Waddington; the Massena and Madrid-Waddington school districts; and St. Lawrence County. An agreement between the local entities and the Power Authority, reached during the relicensing process, calls for NYPA to make a $2 million payment in each year of the new license’s 50-year term.
“We have used our share of the settlement to make a great number of improvements within our town,” said Louisville Town Supervisor Larry Legault. “The new town offices, highway department and fire station, along with the improvements that the Power Authority made to our recreational facilities have been a huge benefit for this area. We really appreciate working with the Power Authority to make our community a better place.”
“The district is very thankful for the continued support from the New York Power Authority,” said Madrid-Waddington Central Superintendent Lynn M. Roy. “The funds will continue to go toward the fitness center and various other programs to support the health and wellness of the children and families of our district. In these economic times, it is nice to know we have a continued funding source we can count on.”
“The NYPA annual funding is supportive of the capital project being undertaken by the Massena Central School District on behalf of students and the community,” said Massena Superintendent Roger Clough II. “We are also able to offer a tax reduction to the community. I think it’s a win-win for the district, the community and the Power Authority. In these hard economic times, it’s nice to have this money set aside for the capital project and tax reduction.”
The NYPA relicensing payments are made each year from the Community Enhancement Fund, established pursuant to the relicensing agreement between NYPA and the members of the St. Lawrence Local Government Task Force. The Power Authority also provided an advance payment of $4 million before the new license took effect.
The annual payments are part of the financial support and other benefits that NYPA will provide in the area during the term of the St. Lawrence project’s license under various settlement agreements.
In addition, NYPA is carrying out a $281 million Life Extension and Modernization program at the St. Lawrence-FDR project. The program, which will enable the project to operate at maximum efficiency for many years to come, is expected to be completed in 2013.
■ The New York Power Authority uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. ■ NYPA is a leader in promoting energy efficiency, new energy technologies and electric transportation initiatives. ■ It is the nation's largest state public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■ More than 80 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state. ■For more information, www.nypa.gov.