CANTON, Ill. — Plans to close 4 of Vistra Energy’s coal power plants in the state will have major impacts on communities, leaving leaders to find solutions to accommodate.
Vistra Energy contributed about $2 million in property taxes in the area each year, not including sales taxes and income taxes. Closing their facility will greatly affect local governments in the county as well as the school districts.
Canton Mayor Kent McDowell said this is something they had been anticipating and they are working with legislators to bring solutions.
“This is a challenge, one more challenge that we have to step up. We have to adapt and overcome and I strongly believe that we will. It’s going to be a hit but I strongly believe this community will pull itself up like we always have, and continue to thrive,” said McDowell.
Canton School District Superintendent Rolf Sivertsen said this will have a serious impact on schools. He said they are projecting a loss of $950 thousand in revenue by the 2021-2022 school year.
“To say the least the impact of the Duck Creek Plant closing will be catastrophic to our school district. We are projecting a loss of $950,000 in revenue by 2021-2022 school year,” Siversten said. “Vistra Energy spokesman Brad Watson recently estimated that the assessment of the Duck Creek property would drop by 80% after the company has completed the property tax appeal process.”
Canton School District leaders plan to have an official press conference sometime this week.
Funding information can be found at http://renewillinoispower.com/how-it-works.
This story has since been updated to provide better clarity from Vistra Energy.