Northern Pass (NP) officials met today with Leslie Boswak, Deerfield’s town administrator, to review revised, estimated tax investments that would be made in Deerfield, if The Northern Pass transmission project receives all required state and federal approvals over the next few years.
In its discussions today, NP officials indicated that they have re-analyzed the preliminary, projected costs of the NP project in Deerfield, and have reduced the expected investment from $96.2M to $35.3 million. This level of investment would result in new local property tax payments to Deerfield from NP of about $718,000 a year.
Company officials explained that the reasons for the revisions were the result of assigning a cost of $23 million to Deerfield in its preliminary estimates to upgrade a substation that should have been allocated to Franklin, NH, along with updating costs associated with building the new transmission line and rebuilding some of the existing line. Officials expect to further refine these projections, as well as those investments in other communities where the Northern Pass line would be located, as design and engineering for the NP project continues in the coming months, and will provide updates to communities as information is available.
Public Service of New Hampshire is in the final leg of completing a multi-year, $25 million construction project in Deerfield that will improve reliability and stability of the transmission system in southeastern New Hampshire. Beginning in July 2009, improvements have included the installation of a new autotransformer and new circuit breakers, the addition of upgrades to sections of the existing transmission lines connecting to the Deerfield substation, and installation of control cable and relays, among other efforts. Work on this project is expected to conclude in November 2011.