FREMONT The bankruptcy of a power generating firm has affected payments promised to the city of Fremont, its school system, and a joint vocational school district.
On Thursday, city council and the Sandusky County commissioners each approved amending the 2001 enterprise zone agreement with Fremont Energy Center LLC, owned by Calpine Power Co., of San Jose, Calif.
The original deal called for the company to pay $820,000 in lieu of taxes on the plant.
The amendment allows the company to spread out three payments to the Fremont schools over a year.
The first payment will be $130,000 and two others each total $273,000.
The company previously paid $120,000 to the city of Fremont and $24,000 to the Vanguard Joint Vocational School. But its creditors balked at making the lump sum payment of $676,000 to the Fremont City School District.
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