Curran submits proposed LIPA settlement


On Thanksgiving Eve, Nassau County Executive Laura Curran asked the county legislature to approve a proposed settlement with the Long Island Power Authority to reduce taxes on the Glenwood Landing and Island Park power generation plants.

The settlement, filed with the legislative clerk on Wednesday afternoon, calls for the total amount LIPA now pays in lieu of taxes to be cut in half over seven years. According to Newsday, LIPA now currently makes $65 million in "pilot" payments for the two plants. That amount would be reduced to $32.5 million and then extended at that 50 percent level for another four years.

In return, LIPA would discontinue its long-standing tax challenges against the county's assessments on the Glenwood Landing facility and the Island Park E.F. Barrett power generating plant.

The county estimates it  could pay $245.5 million in tax refunds if LIPA wins those challenges while LIPA contends the county's liability could total $500 million.

The eleven year "glide path" in reduced taxes "will allow time for the generation of creative solutions to mitigate tax impacts," according to the staff summary of the settlement.

The summary also warns that LIPA and Nassu have a court date Dec. 10, "at which time LIPA is prepared to go to trial f it does not believe that the county is moving swiftly to enter into the proposed settlement and this PILOT Agreement."

County legislative committees are scheduled to meet Dec. 9 with a full legislative meeting on Dec. 16.  Presiding Officer Richard Nicolello (R-New Hyde Park) is reviewing the proposed settlement, a spokesman said.



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