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March 24, 2018

suncommunitynews.com

• EDITION •

City sues town over Falcon Seaboard dispute

LONG-TIME PERU CENTRAL MUSIC TEACHER PASSES AWAY

It’s a battle of the Plattsburghs as city claims town deliberately deprived them of revenues By Pete DeMola

» Wilkes Cont. on pg. 2

EDITOR

PLATTSBURGH | The City of Plattsburgh has filed a lawsuit against the Town of Plattsburgh over revenue from the Falcon Seaboard power plant. The lawsuit filed in Clinton County Supreme Court last week alleges the town deprived the city of its rightful share of proceeds from Falcon Seaboard following the renegotiation of a 1992 payment-in-lieu-of-taxes agreement to split revenue between the city, town and Beekmantown Central School District. » Lawsuit Cont. on pg. 9

Plattsburgh officials OK cryptocurrency moratorium Blockchain technology could change Plattsburgh forever, say tech experts By Elizabeth Izzo STA FF W RITER

The Plattsburgh Common Council imposed a moratorium on new commercial cryptocurrency operations for the next 18 months. But cryptocurrency, blockchain and cybersecurity experts are concerned that Plattsburgh may be missing out on an opportunity to be at the cutting edge of a blossoming industry. Photo by Elizabeth Izzo

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PLATTSBURGH | The Plattsburgh Common Council last Thursday passed a moratorium that will temporarily halt new commercial cryptocurrency operations from moving into the city for the next 18 months. The measure was passed unanimously 6-0. “I think a moratorium needs to happen now to stop the bleeding,” said Councilor Patrick McFarlin (Ward 5). “But our public doesn’t deserve to wait for 18 months.” Lawmakers said they will use the time to study how to mitigate the impact of cryptomining on the electrical grid ahead of the

temporary ban’s termination. City officials have also raised health and public safety concerns stemming from improper ventilation of the mining operations. In a time when the city is contending with a structural deficit, an anemic fund balance caused by systemic overspending, rising taxes and projected expense increases, neither the city nor its ratepayers can afford to subsidize large infrastructure upgrades necessary to serve new cryptocurrency operations, said Mayor Colin Read, and the city has recently received a number of requests from miners looking to set up shop. “My goal is to protect the ratepayers at every single turn,” Read told a packed crowd.

EXPERTS WEIGH IN

While city officials have not identified the two bitcoin operations located in Plattsburgh, Vice identified them as Coinmint and Zafra LLC. Local cybersecurity, cryptocurrency and blockchain technology experts say that Plattsburgh could be missing out on an opportunity to be at the cutting edge of a blossoming industry. » Bitcoin Cont. on pg. 5

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