Power Authority to Make Annual
Payment of $2 Million to Local Entities
November 27, 2007
MASSENA—Communities and school districts within the
boundary of the New York Power Authority’s (NYPA) St.
Lawrence-Franklin D. Roosevelt Power Project will soon benefit from
NYPA’s latest annual payment of $2 million in connection with the
project’s receipt of a new federal operating license in 2003.
The funds, expected to be available on Dec. 1, 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.
The 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. Among the benefits are major improvements to
state and local parks and the Wilson Hill Wildlife Management Area;
the return of lands, not required for project operations, to local
communities and residents; and NYPA expenditure of about $66 million
for fish and wildlife habitat improvement projects, environmental
research and shoreline erosion control.-
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.
■ NYPA 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-owned electric utility, with 18 generating
facilities in various parts of the state and more than 1,400
circuit-miles of transmission lines.
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