1. Indian Point Update Hendrick Hudson School District PTA Presentation
November, 2017

3. Projected PILOT Payments
Revenue Lost = $60,510,748

4. Cessation Mitigation Program
Grant Funding for Eligible Local Government Entities Demonstrating Qualifying Property Tax Reductions Owed By an Electric Facility Subject to Their Taxing Authority.
$30 million program (increases to $45 million in 2020)
Tax Loss must be 20% or more and a direct result of an electric generation facility ceasing operation
Awards are over 7 years with up to 80% of the Tax Loss provided in the first year, declining by 10% every year over the seven year period.
* Adapted from May 31, 2017 Presentation to the Indian Point Task Force

5. Cessation Mitigation Program
Grant Funding for Eligible Local Government Entities Demonstrating Qualifying Property Tax Reductions Owed By an Electric Facility Subject to Their Taxing Authority.
$30 million program (increases to $45 million in 2020)
Tax Loss must be 20% or more and a direct result of an electric generation facility ceasing operation
Awards are over 7 years with up to 80% of the Tax Loss provided in the first year, declining by 10% every year over the seven year period.
* Adapted from May 31, 2017 Presentation to the Indian Point Task Force

6. Cessation Mitigation Program
Concerns/Questions:
Funding is not Guaranteed – Competitive Application
$45 Million for NYS – Other Communities May Become Eligible
Law or Annual Budget Appropriation?
Life of The Grant – Seven Years Goes Quickly
We Are Not Eligible – First Year Tax Loss is Less Than 20%

7. Projected PILOT Payments
Revenue Lost = $60,510,748

8. Cessation Mitigation Program
Advocacy Recommendations: Mitigate Tax Spikes
Ensure Funding is Guaranteed in Law
Lower Eligibility Threshold For Year One (20% - 15%)
Ensure Funding is Budgeted for Entire Cessation Period (7 years)
Earmark Funding For Impacted Jurisdictions – Long term Stability
Seek NYS Legislation to Fund PILOT Gap $60,510,784

9. Be Informed – Stay Informed
Communications Survey – By Thanksgiving
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