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| NewsTuesday, August 28, 2007 4:10 PM CDT |
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Taxing bodies, Clinton plant yet to reach deal
CLINTON — The first round of negotiations between Exelon Corp. and local taxing bodies has yet to yield a long-term settlement on the tax value of Clinton’s nuclear power plant. Attorney Fred Lane, who is representing seven DeWitt County-area taxing bodies, has met with a negotiating team from Exelon, the parent company for plant owner AmerGen Energy Co., for talks that were described as “cordial.” A second round of talks is scheduled for Wednesday. Both parties are seeking a long-term agreement, but they are divided on the equalized assessed valuation of the plant. The county assessor’s office set the plant’s value at $200 million last year, but Exelon officials say it should be closer to $168 million. Lane argues the possibility of adding an additional reactor on the site makes the property worth even more than $200 million. The federal Nuclear Regulatory Commission in March awarded Exelon an early site permit for a second reactor, but that does not mean one will be built. “It is our position that the negotiations for a long-term deal start at $200 million,” said Clinton school district Superintendent Jeff Holmes. “I truly believe they want a settlement. They are bringing in a negotiating team from Philadelphia, and in looking at similar situations across the country, we feel very secure with that figure.” After the $200 million assessment last spring, Exelon appealed the decision to the DeWitt County Board of Review, but was denied. Exelon is considering appealing to the Illinois Tax Appeal Board unless a deal can be worked out. E-mail this story | Print this story | Search archives | RSS Show comments |  Hide comments | Hide comments on all stories |
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