It’s been a tough week for Wells Township.
Last week, Buckeye Power appealed their tax evaluation at the Cardinal Power Plant.
That means they would pay $3.5 million less in taxes per year, leaving the township with a big financial burden.
But company officials said this tax evaluation is important for the plant to survive.
“In order for us to make sure the plant is still here and producing power in the future, we have to take a look at everything. That includes taxes,” said Patrick Higgins, spokesman for Ohio’s Electric Cooperatives.
The Cardinal Plant is certainly not the first plant to do so.
“This is pretty much a precedent that’s been set within the industry. Since 2010, there have been 12 or so coal fired plants in Ohio that have been retired. Within the next for years, four to six more are scheduled to retire. We’re in challenging times,” Higgins said.
But they still care about their neighbors.
“Our intention is to work with the community, the schools, the township and the county. We want to be collaborative. We consider ourselves a part of this community. We’ve been here for 50 years, we intend to be here for another 50, and we intend to be a vital, contributing part to this community,” Higgins said.
Higgins added that the best case scenario is they find a solution is found that works for everyone.
But until then, it looks like Wells Township will take a major hit, losing $690,000.
Stay with 7News for updates.