A proposed $800 million power plant in Logansport is moving forward. WLFI-TV in West Lafayette reports the city council approved initial details of a Power Purchase Agreement. A second vote on the agreement is set for June 16. Those who opposed the vote say not enough information has been released yet for an informed decision.
Under the agreement, the maximum price of power sold to Logansport Municipal Utilities would be 5.3 cents for two years, then increases would match the Consumer Price Index.
WLFI-TV reports a Development Agreement still needs to be signed. The plant cannot move forward unless both agreements are approved by the city's utility service board and city council.
Mayor Ted Franklin is hopeful a Development Agreement vote could take place in the coming weeks.
Also to be determined is who will foot the bill for a $1.75 million franchise fee that will pay back the city's costs of pursuing the plant.