Oxford Discloses Terms of New Tax Deal with Oxford Power Plant Operators: UPDATE

OXFORD, CT — First Selectman George R. Temple announced Wednesday that the new CPV Towantic Power Plant would bring in $117.6 million in taxes over the next 22 years. During a special meeting Tuesday the Board of Selectmen unanimously approved a renegotiated contract. It now goes to a Town Meeting on Monday, May 1 at 6 p.m. at Quaker Farms School, 30 Great Oak Road.

Temple, in a news release, encourages everyone to come out and approve the agreement which has been in negotiations for the past year and a half. “This is a very good agreement,’’ he said.

Temple said CPV will pay the town $5 million up front and another $200,000 a year over seven years. The company will pay up to $493,912 to repave Riggs Street and Academy Road and give the town $50,000 a year over the years to fund youth programs such as the Boy Scouts and Brownies, town sports and upgrades to town parks.

Temple said the money from CPV will allow the town to maintain a low mill rate. If the agreement passes at town meeting, residents can see a two mill decrease from 24.21 (current) to 22.21 (proposed.) This means a homeowner with property on Mulligan Drive, assessed at $246,000 would pay $5,463 a year in taxes and would see a savings of $512 or a total savings of $901 over the past two years.

Written by Brian McCready

(Editor's Note: This story first ran previously but here it is again in case you missed it.)