Senate Passes Bill to Incentivize Repowering/Development at Port Jefferson Power Plant.
New York State Senator Kenneth P. LaValle said a bill to provide an incentive for the remediation of the Port Jefferson power plant and to create development of a new, state of the art facility on the site passed the New York State Senate today.
“This bill would encourage the development of a new or repowered facility in the Village of Port Jefferson to replace the existing plant and restore it with a modern, efficient power source,” Senator LaValle said, adding “we want to encourage competition and reliable, clean, low-cost energy that will benefit all Long Islanders.”
The bill would provide an investor in the new facility with refundable development credits, cover at least 25% of cleanup and infrastructure expenses and provide up to a full property tax or PILOT rebate from the State for 10 years. Additionally the bill would make available to a developer brownfield development credits.
“We are attempting, through this legislation, to generate interest in the site,” Senator LaValle said.