MORRIS – The Grundy County Board learned Tuesday that Exelon is willing to freeze the equalized assessed value of the Dresden Generating Station for an extended term.
In a memorandum to the board, Grundy County Administrator George Gray wrote that for several years, local taxing bodies and Exelon have had an agreement to establish the EAV for the plant. Value decreased about $5 million per year under the agreement.
Last year, Exelon agreed to extend the agreements and freeze the value for the 2018 tax year, which currently is about $490,000,000.
"The Assessor concurs that this is an offer worth strong consideration," the memo said. "The EAV does not fall as programmed in the past and maintains a steady EAV for all affected taxing bodies."
There is currently no agreement in place for the 2019 tax year.
There was not enough time to prepare an intergovernmental agreement with all the taxing bodies before the meeting, Gray said, as the county learned of the proposal just last week, but Gray said one would be prepared and should be ready for the May board meeting.
"It would be a wonderful thing if we get this secured and have stability for the next three years," County Board Chairman Chris Balkema said.