POUGHKEEPSIE – The Cricket Valley Energy Center in Dover Plains is expected to receive financial incentives to build its $1.5 billion electric generating facility when the Dutchess County Industrial Development Agency meets on Thursday.
The approvals were delayed for a couple of weeks until paperwork issues were resolved, said IDA Chairman Charles Daniels.
“In the unlikely event if there is a default, the IDA and the (Dover) school board have no requirement to provide a time to cure the default, and that is standard language in all of our agreements, and the lenders were insisting on a 30-day notice,” Daniels said.
If approved, the IDA incentives would include a payment-in-lieu-of-taxes (PILOT) agreement as well as sales tax and mortgage tax exemptions on the project to be located at 2241 Route 22 in Dover Plains.
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