City, National Grid Amend ‘Tracking Account’
At Monday night’s meeting, the Common Council announced it had reached an agreement with Niagara Mohawk (now doing business as National Grid) that will save the city money over the next 10 years. Due to a 1993 deal, the city currently owes the utility more than $11.5 million. Monday’s deal is a way for the city to pay off the debt without placing any burden on the taxpayers, councilors said.