Last-Minute Changes See Sunoco, El Paso Settlements Approved
Late negotiations cut $1 million off the settlement to end a longstanding dispute over the value of the Eagle Point refinery complex.
In a surprise move, the West Deptford township committee announced a last-minute change Thursday night to settlements with Sunoco and El Paso to end a decades-long dispute on the value of the Eagle Point refinery complex, slashing a million dollars off the total, which then passed muster with the entire township committee in a 5-0 vote.
Late negotiations with the two companies—the Sunoco piece was still in talks an hour before Thursday night’s meeting—resulted in the reductions, which Mayor Ray Chintall said came about as part of a bipartisan effort.
Sunoco agreed to take $800,000 less and El Paso reduced its share by $200,000 in the settlement, which brings to a close 24 years of disputed taxes with a $31.4 million deal.
This story is developing. Check back with Patch later tonight for more on the settlements.