12/14/18: Settlement between LIPA and Brookhaven Town have Implications for Island Park

A settlement agreement between LIPA and Brookhaven Town was reached in mid-December. It includes a reduction in taxes LIPA pays for its Port Jefferson power station of approximately 50% over nine years, beginning  

2OI9-2020. This means LIPA’s annual taxes will go from $32.ó million to just over $1ó.8 million. Thus, the tax burden of $15.8 million will gradually shift to property owners. 

The implication is that the State Supreme Court will rule similarly on LIPA’s cases with school districts, including Island Park.  We anticipate a decision will be rendered on Island Park UFSD’s lawsuit with LIPA in early February.  An appeal by the district is planned.  

Discussion on the issue will take place with the district’s legal counsel, Robert H. Cohen, Esq of Lamb & Barnosky LLP at the Board of Education Meeting on Monday, January 28 at approximately 7:20 PM (after Students of the Month are recognized) in the Conference Center at 99 Radcliffe Road. 

Read the article attached,  “State judge OKs Brookhaven – LIPA tax settlement.”