Niagara Area Development approves application to refinance
Sunday October 14, 2012 | By:Rikki Cason | News
The Niagara Area Development Corporation board of directors approved Thursday an application for assistance for consideration from Convanta Energy to refinance $165 million of existing tax exempt bonds.
The Covanta Energy facility, located at 100 Energy Blvd. at 56 St., Niagara Falls, is a fully permitted and operational 821,000 ton per year energy-from-waste facility producing steam and electricity from municipal and commercial solid waste. The company employs 86 individuals.
Covanta Holding Corporation has been approved from the NADC to refinance $165.01 million in aggregate of existing Niagara County Solid Waste Disposal Facility Revenue bonds from 2001.
The NADC was established by the Niagara County Legislature as a Local Development Corporation. Members of the NADC are appointed by the County Legislature and are the same as the board members of the NCIDA.
The staff of the NCIDA administers and manages the NADC under an administrative services agreement with the County.
The Covanta Energy facility, located at 100 Energy Blvd. at 56 St., Niagara Falls, is a fully permitted and operational 821,000 ton per year energy-from-waste facility producing steam and electricity from municipal and commercial solid waste. The company employs 86 individuals.
Covanta Holding Corporation has been approved from the NADC to refinance $165.01 million in aggregate of existing Niagara County Solid Waste Disposal Facility Revenue bonds from 2001.
The NADC was established by the Niagara County Legislature as a Local Development Corporation. Members of the NADC are appointed by the County Legislature and are the same as the board members of the NCIDA.
The staff of the NCIDA administers and manages the NADC under an administrative services agreement with the County.
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