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Concern growing for AES

PENN YAN—Economic impact of the possible closure of  the AES Greenich Plant on Seneca Lake was the first topic of discussion during the Oct. 20 meeting of the board of directors of Finger Lakes Economic Development Center.
Executive director Steve Griffin said he met with AES representatives and the municipalities affected by the issue. Griffin said, “The energy market for them is upside down. Coal prices are up and natural gas prices are down. They are trying to figure out how to keep operating. We are listening.”
Current value of the property is basedn on the power generated. The current assessment of the property is $55 million. A significant amount of tax revenue is at issue with approximately $500,000 in school taxes. The income for the town of Torrey is 17 or 18 percent of their income. Griffin said another meeting will take place in the next two or three weeks.
In other business: Griffin reported 13 new projects have been approved. Almost $14 million has been invested along with 34 new jobs. To date this year there have been 28 new projects in Yates County.
• The maketing piece for the Penn Yan waterfront is close to complete. An analysis of the infrastructure indicates $2.25 million in upgrades are needed, mainly sewer and water. Griffin said property taxes, sales and lodging taxes could cover debt service on the improvements. Board member Tim Dennis said the former Penn Yan Marine manufacturing property is still a brownfield. The state Department of Environmental Conservation has agreed to a middle ground. This indicates four to six inches of soil will have to be removed followed by monitoring. Dennis said developers iwll have to be experienced in this type of development.




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