News reports emanating from the mayor’s office that Exelon might be selling their property along the Everett waterfront across from the Encore site is a bit hopeful, according to Exelon’s public statements on the matter.
Exelon is staying put with its surviving power plants until 2024 at a minimum.
When the final two energy generators are closed down at that time, Exelon will be looking to the best possible use or reuse of their land – most of which would need to be remediated.
Wynn Resorts has previously expressed an interest in acquiring the property for the purpose of expanding the entertainment and hotel signature on this once useless and polluted Broadway industrial district.
The city’s second largest taxpayer and source of income is in ongoing negotiations with the Everett assessor’s department to redo its assessment for the 70 acres of land it owns along the Mystic River, according to a source familiar with the negotiations.
Exelon owns the land and the giant oil-fired generators Mystic 8 and 9 which are scheduled to be retired in 2024.
When those two generators are sitting idly, the value of the land they occupy is not worth as much as when the generators are running and generating millions of dollars in revenues.
This is how Exelon will look at the re-evaluation.
The city’s opinion will be just the opposite.
The city’s reassessment is likely to show the value of the land has gone up greatly since the TIF was signed twenty years ago.
Exelon, Everett’s largest taxpayer, is fighting for its right not only to continue producing energy at its plant but to do so long after its twilight and end had been planned for in 2024.
Environmentalists in Greater Boston are fighting to close down the power plant, which produces enormous amounts of energy for 1 million New England consumers but does so with an unmatched record locally for polluting the environment.
The Boston Globe published a news piece Monday that hit Exelon like a hammer over the head.
“The towering smokestacks of the state’s largest power plant have loomed for decades over the Boston area, spewing pollutants that produce smog, warm the planet, and exacerbate asthma and other respiratory illnesses, such as the coronavirus,” wrote the Globe.
The Mystic Generating Station as it is known locally, which is located on a sliver of land abutting Everett, was slated to close two years ago.
The City of Everett is presently involved in a law suit seeking more tax money from the entire Exelon position on the Everett coastline. The city has made the claim that the $15 million a year coming into the city treasury does not account for the true value of the company’s real estate and manufacturing assets.
Generous Gift Greatly Expands Opportunities for Science Students
Executives from Exelon Generation joined students and educators inside an Everett High classroom on Thursday morning to celebrate a generous gift that enhances and expands student access to cutting-edge technology.
The donation comes in the form of eight robotics kits, totaling $12,800. The purchase greatly improves the ratio of kits-to-students and will facilitate better student learning and experience in robotics and engineering classes.
“These robotics kits will allow our students to go from groups of five to groups of two for their projects,” said math and engineering teacher Anna Seiders. “This will have a profound impact on their learning experiences. We cannot thank Exelon Generation enough for their continued support.”