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Aging Facility and Rising Costs Lead to Decision
The City Council held a public hearing as the first step to enable disposal of the Hydroelectric Plant located at Lock and Dam No. 2 on the Mississippi River. It was constructed in 1985 and operated by the city to capture revenue from the sale of hydro power. Since then, the facility has required extensive annual costs and increasing maintenance, and the revenues have decreased. The facility would operate at a $14 million loss over the next 25 years. The Council’s approval to dispose of the plant sets it up to be able to sell the facility to a private entity with a different business model and financial pro forma.
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