The Block Island Power Company should not be owned by our town. Taxpayers and Ratepayers should not bear the financial obligations relating to environmental remediation of BIPCO’s property. The use of $1.8M of taxpayer money to fund the purchase of only 2/3 of the company stock and the assumption of BIPCO'S debt obligations financially burdens our community when there are other, more pressing infrastructure needs.
We, the undersigned, are concerned citizens who request that the town council take action to divest the 2/3 ownership of the Block Island Power Company and seek private responsibility for the costs relating to environmental remediation of the BIPCO property.
The little I have read in the paper is scary. I see a few things...the town didn't do due diligence prior to purchase, this is going to cost all rate payers lots of $$$ and, this should have been on the Nov ballot. Seems sneaky. All of a sudden there are faulty lines, faulty generators due to fire, the list goes on. It's interesting the town is so concerned about affordable housing. Perhaps they should wonder how rhose people are going to pay the inevidible increase in taxes to pay for this purchase!