Austin leaders approve the $460-million purchase a power plant in Nacogdoches County.
This may be a case of one region’s loss being another region’s gain. On the surface, this deal appears to be a cost-saver for Austin Energy. By the city’s own numbers, the utility may save upwards of $275-million over the next two decades. But Nacogdoches County and the local Cushing school district stand to lose millions. The reason: the current property on which the plant sits is appraised at nearly $330-million, and both the school district and county draw draw heavily from the revenue generated.
Austin will try to exempt the property from having to pay any taxes, meaning that revenue stream may very well dry up for Nacogdoches County and the schools.
(Photo:Shutterstock/Brandon Seidel)
