Spectra Pays Cortlandt $2.8 Million for Pipeline Project

Cortlandt officials are on record opposing the expansion of the Algonquin natural-gas pipeline that runs through town on its way to New England.

They also are gaining $2.8 million, the price Spectra Energy is paying for the use of town land, according to The Journal News.

It’s new town land -- 99 acres bought from Con Edison under the nose of a company that wanted it for a five-story electric transmission converter station.

It does have a negative affect on the tax roll, however -- Con Ed was paying about $130,000 to the town and to the Hendrick Hudson school district annually, columnist David McKay Wilson reported.

The town is using the money from Spectra to pay for the parcel, which will hold new facilities for the town’s Environmental Services department and for recreation.

Read the full article on lohud.com.