It was a short meeting for the Randolph County Commissioners on March 9, but a looming financial issue was briefly discussed.
At the end of the meeting, the commissioners were asked about the matter of the proposed change in the assessed valuation of Dynegy’s Baldwin Power Plant.
Commissioner David Holder noted that the plant’s value is still being determined. He added that the change in assessed value will not only affect the county, but the Red Bud School District, Southwestern Illinois College District and the Baldwin Fire Protection District will also feel the effect of the lessened amount.
Holder said that the plan is to enter into a three year agreement with Dynegy on what the assessed valuation of the Baldwin facility will be, prior to its acquisition by Vistra Energy being completed.
“We want to lock something in place that protects our interests,” Commissioner Marc Kiehna added.
Holder continued, “It’s a sticky issue. If we can’t reach an agreement, it goes to arbitration.” He added that the arbitration process is lengthy, often taking years, during which the taxes that Dynegy would have been paying cannot be distributed until the matter is settled.
For more from the Board of Commissioners meeting, please se this week’s print edition.