UPDATE: Oxford Power Plant Will Lead to $112M in Tax Revenue: First Selectman Says

Oxford First Selectman George Temple issued the following public statement Wednesday concerning an important meeting Thursday regarding the proposed Oxford power plant.

In the proposed agreement, the town will receive an additional $60 million in taxes, a $6 million road, and money earmarked for Oxford youth activities.

Over a 22 1/2 year time-period Oxford will receive $112 million in tax revenue, but a ‘no vote’ at Thursday’s meeting would reduce that number by $60 million, officials said.

Read Temple’s full letter below:

“Hi, this is Oxford First Selectmen George Temple. At 7:00 PM on Thursday, September 3rd the town will conduct a very important town meeting at the Oxford High School. The vote will be to consider a Tax Agreement, a Construction Development Agreement and a Community Support Agreement. These agreements are re-negotiations of existing agreements between the Town of Oxford and CPV Towantic, LLC. Under the proposed Tax Agreement, the town will receive almost 60 million dollars more than what is under the current agreement. This renegotiation was initiated by the Board of Selectmen at my insistence.

The Construction Agreement will provide the town with a 6 million dollar road and keep all heavy equipment off of town roads, including Riggs Street and Towantic Hill Road.

The Community Support Agreement will provide $50,000 per year for 20 years for Oxford youth activities.

Nothing voted on at the town meeting will in any way slow down or stop the power plant project. The only thing that a no vote will accomplish is to cost the town 67 million dollars in future benefits and income. This money could be used to significantly reduce taxes and provide our Board of Education with much needed improvements including a new Center School.

Since this vote will be a paper ballot, only eligible Oxford voters will be admitted into the auditorium where the town meeting will be held. Please remember to bring a photo I.D.
I hope to see you at the high school at 7 p.m. Thursday, Sept. 3.”