JAY — A New Jersey company has withdrawn its tax abatement applications for its four hydroelectric facilities in Jay, Livermore and Livermore Falls.
Androscoggin Hydro LLC, a subsidiary of Eagle Creek Renewable Energy, bought the facilities from Verso Corp. in January 2016 for $62 million.
The company filed tax abatement applications in each town in February claiming the total assessed value of the four hydroelectric power stations is $33 million.
Mark R. McNamara, a partner at Barclay Damon LLP law firm, which represents Andro Hydro and has offices around the U.S. and in Canada, sent a letter addressed to Paul Binette, the assessing agent for the three towns, Sally Daggett of Jensen Baird Gardner & Henry in Portland, the towns’ attorney, to notify them of the withdrawal.
“By this letter, and in recognition of the progress made on its (Business Equipment Tax Reimbursement and Business Equipment Tax Exemption) applications, Eagle Creek withdraws its tax abatement applications for each of the the Riley, Jay, Otis and Livermore hydroelectric facilities,” McNamara wrote.
Binette of John O’Donnell & Associates Inc. of New Gloucester will continue to work with the company on the equipment tax exemption and reimbursement applications as the company prepares documents to take advantage of tax relief programs offered by the state in which the company had not previously participated, Jay Town Manager Shiloh LaFreniere said Thursday.
“The site visits and meetings that we had with them in June were very helpful in opening up the lines of communication and we now have a very responsive contact at Eagle Creek and anticipate an effective working relationship with them in the future,” LaFreniere said.
Since Eagle Creek’s purchase of the facilities, Binette has worked to create a fair and equitable assessment because the hydro facilities straddle the three town lines, she previously said.
Eagle Creek had requested that the 2017 assessments in Jay be lowered from $22.6 million to $10.54 million. The abatement request to Livermore, was to reduce its $21.69 million assessed value to $12.89 million. In Livermore Falls, the company wanted its assessed value of $17.2 million reduced to $3.93 million.
Eagle Creek was founded in 2010 to acquire, enhance and operate small hydroelectric power facilities. The company is an owner, operator and developer of 63 hydroelectric generating facilities in 13 states in the U.S. and is headquartered in Morristown, New Jersey, according to its website www.eaglecreekre.com.
Livermore Falls Town Manager Stephen Gould and Livermore Adminstrative Assistant Amy Byron were not immediately available for comment Thursday.
dperry@sunmediagroup.net
Androscoggin Hydro LLC, a subsidiary of Eagle Creek Renewable Energy in New Jersey, has withdrawn its tax abatement applications for four hydroelectric dams in Jay, Livermore and Livermore Falls. The photo above shows Riley hydro facility in August 2017 in Jay. (Sun Journal File Photo)
Send questions/comments to the editors.
