Exelon, the company that owns and operates the nuclear power plants in Oswego County, has reached an agreement with the county on a $69 million tax agreement.
The Payment In Lieu Of Taxes (PILOT) agreement will provide a steady stream of revenue to the county through 2023. Each year, the Mexico Central School District will get $9 million, the county will get $4 million, and the Town of Scriba will get $500,000. That's about $2 million more per year than under the previous PILOT agreement.
Oswego County Chairman James Weatherup says he's looking forward to the stability this agreement will offer.
"We as a county would always wish for more, but it’s slightly more than the PILOT agreement that we had two years ago," Weatherup said. "So, we’ve done what we could. We think we’ve held their feet to the fire."
Oswego County Administrator Phil Church says the increase in payments is a victory for the county because the value of the nuclear plants go down as they age.
In a statement, Tammy Holden, a spokesperson for Exelon, said the company is committed to paying its fair share of property taxes that support the communities where we live and work and they are grateful that the agreement was approved.