Council Signs Off on $5.4 Million Tax Treaty

The weak language and terms in this agreement do little to protect the interests of taxpayers. Council President Vadenais’ claim that the deal would likely fall apart if the

Town held firm on requiring $1.2 million in cash to be set aside for decommissioning costs is simply laughable. The developer initially stated that lease payments to the land owners would be $31 million over 25 years ($1.24 million per year). If there is a deal breaker in this picture, it should be the ANNUAL $1.2 million dollar payments to the land owners, not the ONE-TIME payment of $1.2 million to the town to cover decommissioning costs.

All of the other issues I expressed in earlier posts regarding this project are still of great concern. In addition, it’s extremely disheartening to see town officials prioritize a new concession stand with bathrooms over repairing our failing roads.

See the original article in the Valley Breeze

https://www.valleybreeze.com/2019-10-23/woonsocket-north-smithfield/council-signs-54-million-tax-treaty#.XfJ0XZNKiUl

#solar #deforestation #infrastructure #budget #debt #taxes #vadenais #decommissioning