Owner of hydroelectric facilities in Jay requests tax abatement

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JAY — Androscoggin Hydro, a subsidiary of Eagle Creek Renewable Energy based in New Jersey, has filed a tax abatement request for 2017 for its two hydroelectric facilities on the Androscoggin River.

Eagle Creek bought four hydroelectric facilities from Verso Corp. in January 2016 for nearly $62 million. The other facilities are in Livermore and Livermore Falls.

Jay Town Manager Shiloh LaFreniere told selectpersons Monday that the tax abatement requests dated Feb. 15, 2018, claim that the applicants believe the total assessed value of all four facilities is $33 million, not $61.99 million.

The company has requested that the 2017 assessments in Jay be lowered from $22.6 million to $10.54 million, she said.  

Since the purchase, Livermore and Livermore Falls assessors have worked together on creating a fair and equitable assessment because the hydro facilities straddle the three town lines, according to LaFreniere.

Several written requests for information regarding cash flow, capacity, reports, improvements and appraisals have been made since the company’s purchase, however, no information has been provided, she said.

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Androscoggin Hydro has not provided any evidence supporting the reduced value of the hydroelectric facilities, she said.

Assessing agent for all three towns, Paul Binette of John O’Donnell & Associates Inc. of New Gloucester, is putting together requests for more information to support why the valuation should be reduced for all four facilities. 

Eagle Creek Renewable Energy has filed 2017 tax abatements with other towns in Maine where they own hydroelectric facilities, LaFreniere said. 

According to Eagle Creek’s abatement requests to Livermore, the company wants its $21.69 million assessed value on the hydroelectric facility in that town reduced to $12.89 million.

In Livermore Falls, the company wants its assessed value of $17.2 million reduced to $3.93 million. 

The Riley facility in Jay also extends into Canton. 

Eagle Creek was founded in 2010 to acquire, enhance and operate small hydroelectric power facilities. The company is an owner, operator and developer of 63 hydroelectric generating facilities in 13 states in the United States and is headquartered in Morristown, New Jersey, according to its website www.eaglecreekre.com.

dperry@sunmediagroup.net

Androscoggin Hydro has requested tax abatements for two hydroelectric dams in Jay and one dam each in Livermore and Livermore Falls. The photo above shows Riley hydro facility in August 2017. Androscoggin Hydro’s parent company, Eagle Creek Renewable Energy, based in New Jersey, bought the hydro facilities from Verso Corp. in February 2016 for about $62 million. (Donna M. Perry/Sun Journal) 

Androscoggin Hydro has requested tax abatements for two hydroelectric dams in Jay and one dam each in Livermore and Livermore Falls. The photo above shows Riley hydro facility in August 2017. Androscoggin Hydro’s parent company, Eagle Creek Renewable Energy, based in New Jersey, bought the hydro facilities from Verso Corp. in February 2016 for about $62 million. (Donna M. Perry/Sun Journal)

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