Assemblywoman Addie J. Russell
(D-Theresa) announced that legislation enabling the monetization of 20 megawatts
of hydropower and creating a new development fund to promote economic development
in the North Country has passed the Assembly (A.10093). The legislation,
sponsored by Assemblywoman Russell, is the culmination of years of continuous negotiations
between stakeholders and community leaders.
“This is the final piece needed to
put this incredible asset to full use in bringing desperately needed economic
development to the North Country,” Assemblywoman Russell said. “Now is the time
to get down to the business of putting these assets to use attracting new, good
jobs to St. Lawrence County.”
The legislation allows for the sale
of unutilized hydropower from the St. Lawrence-Franklin D. Roosevelt
Hydroelectric Plant to be used for economic development in St. Lawrence County.
Under the legislation, up to 20 MW of power will now be able to be sold in the
wholesale electricity market, with revenue generated from these sales utilized
for economic development projects throughout St. Lawrence County.
The bill creates the Northern New York
Power Proceeds Allocation Board which will be tasked with recommending the
awards from the funds. The board will consist of five members three of which must
reside in St. Lawrence County.
Assemblywoman Russell played a key
role in securing the initial contract in 2009 which set aside the 20 megawatts
of development power and has worked to bring stakeholders from around the
county together to reach an agreement on monetization that will move St.
Lawrence County forward.
“With this agreement in place, we can begin to
look to the future and make the investments in job growth and infrastructure that
strengthen our communities for ourselves and our children,” Russell concluded.
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