July 31, 2019

Washington Parish Receives $250,00 From WPEC/Calpine

Washington Parish Energy Center One, LLC (WPEC) and Calpine Corporation, owners of a power station on property located at 18400 Bennett Road in Ward 4 of Washington Parish, recently contracted with Entergy Louisiana, LLC for the demolition of the existing power plant, transfer of property and construction of a new natural-gas fired power plant.
Pictured: Parish President Richard N. Thomas, Jr., 
Assessor James "Jimbo" Stevenson, Sheriff Randy "Country " Seal

The power plant originally constructed by WPEC/Calpine was never placed into commercial operation due to economic conditions and is now obsolete. Acknowledging that the new project may qualify for ad valorem tax exemption, WPEC/Calpine desiring to mitigate the financial impact an Industrial Tax Exemption would have on Washington Parish, has agreed to pay the sum of $250,000 each calendar year during construction and $1,000,000 when the project is complete, and the property transferred to Entergy Louisiana.

This payment will be distributed by the Washington Parish Sheriff, Ex-officio Tax Collector, to each taxing agency with a millage levied within the assessed area WPEC is located, based on their allowed millage and taxable assessed property values.

No comments:

Post a Comment