County money in tax escrow in budget

$303,000 held from nuclear plant tax appeals

Posted

CLINTON — During county board discussion Monday about revisions to the final fiscal year 2022 budget, money associated with Clinton Power Station raised a question from a board member.

Buck Carter asked about $303,000 held for the county in an escrow account. 

“It’s been there for years,” Carter said.  “My question is, why is that there, and why can’t that money be transferred over to help offset part of this cost ?”

County administrative assistant Dee Rentmeister said the county would be in negotiations this year with Exelon to establish a valuation for Clinton Power Station.  Rentmeister said if negotiations went well, “the county board at that time can make a motion to decide where to put that money back into the general fund.”

The money held in escrow dates back five years during Exelon’s challenge of the county’s declared assessment of the power station. 

Board member David Newberg said the county decided to escrow the money at that time in case it had to return it later to Exelon.

• See the complete story in the Friday, Dec. 3, print edition of the Clinton Journal or now in the Journal E-Edition for subscribers.