LOGANSPORT, Ind. (WLFI) – Logansport residents got their first official chance to hear about the plans for a new $800 million power plant during a public hearing Thursday evening.
Most residents at the hearing seemed to be in favor of the power purchase agreement that is proposed between the city and Total Concept Solutions. The agreement sets a fixed rate of $0.053/kilowatt hour for the first three years of operation.
Total Concept Solutions will pay all costs related to building the natural gas plant. The agreement states that the city gets a minimum of four percent of sales of power to third parties, with a minimum amount of revenue to Logansport set at $5 million annually.
The final power purchase agreement and a development agreement still need city council and municipal utilities board approval.
“We don’t want there to be any question of who had the authority to enter into this agreement. So, if everybody signs off on it, then we’ve covered all the bases,” said Logansport mayor Ted Franklin.
The utilities board is set to consider the power purchase agreement on May 27. The city council has a first reading set for June 2 and a second reading set for June 16.