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GlobeSt.com UPDATE: Duke Energy Brings Big Tax Chip to Bargaining Table

EUSTIS, FL-For the second time in two years, the leading producer of natural gas liquids in the US is expected to ask Lake County, FL for a development order to build a $200-million, 640-megawatt merchant power plant outside Eustis, 28 miles northwest of Downtown Orlando.

By Alex Finkelstein | Updated on August 03, 2001

EUSTIS, FL-Charlotte-based Duke Energy next month could be offering fast-developing Lake County, FL (Pop. 210,000) a deal it may find difficult to refuse.

In exchange for a development order and a water withdrawal permit to build a $200 million, 640 megawatt merchant power plant on a 788-acre tract five miles east of the city, Duke will promise to use only 30 acres of the land for the facility; leave 758 acres as protected green space or develop it as a public horse-riding/recreation park; and pay an estimated $3 million in annual property taxes.

The site is northwest of State Road 44 and Country Road 437, a scenic rural area dotted with five-acre homesteads, horse-riding trails and large nurseries 28 miles northwest of Downtown Orlando.

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