NYPA Trustees Approve Program for
Funding Municipal Projects from Sale of Surplus St. Lawrence-FDR
March 26, 2008
FOR IMMEDIATE RELEASE
WHITE PLAINS—Proposed public projects in various
North Country communities will be supported by a program approved by
the New York Power Authority (NYPA) Board of Trustees Tuesday in
which the proceeds from the sale of surplus properties from the St.
Lawrence-Franklin D. Roosevelt Power Project to adjoining private
landowners will be the source of funding.
The board approved the program after the Power
Authority received a funding request from the town of Lisbon for the
reconstruction of a bathhouse at the town beach. The other
municipalities to participate in the program are the towns of
Waddington, Louisville and Massena and the village of Waddington.
“We look forward to using the revenues from the
sale of surplus St. Lawrence-FDR parcels to adjoining landowners to
support public projects and improvements in those communities,”
Roger B. Kelley, NYPA president and chief executive officer, said.
“The action by the Power Authority board will allow us to provide
funding to these municipalities in amounts that approximate the
revenues from the sale of lands in the respective communities.”
NYPA’s financial contributions under the community
support program will begin with providing $138,910 to Lisbon for the
town beach bathhouse, corresponding to what has been obtained to
this point from the sale of surplus land in the town. The
of the bathhouse is estimated to cost $287,000,
with the Power Authority expecting to provide additional funding for
this initiative from the future sale of surplus properties in the
Approximately 247 acres of surplus
properties are intended for the adjoining landowners in Lisbon and
the three other towns and one village. Those parcels are part of the
nearly 600 acres of shoreline-area properties that NYPA will convey
to the municipalities and adjoining landowners as part of a
comprehensive settlement agreement reached during the relicensing of
the St. Lawrence-FDR project. Approximately 400 acres have been
transferred up to now, mostly to the municipalities.
NYPA began sending out letters of intent in May
2006 for the sale of properties to the adjoining landowners. They
have two years from the date of the letters to decide to purchase
the offered properties.
The St. Lawrence-FDR project, the Power Authority’s
first generating facility, received a new operating license from the
Federal Energy Regulatory Commission in October 2003. This capped a
Cooperative Consultation Process that provided for wide-ranging
financial, recreational, environmental and other benefits for
Northern New York over the new 50-year project license. They
included changing the project’s boundaries for the conveyance of the
The 800,000-kilowatt hydroelectric facility
provides some of the lowest-cost power in the country, with more
than half of the output supplied to Massena’s industries.
■ 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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