Sweden settles NiMo lawsuit

There were no cash payouts or refunds in the settlement agreement reached by the Town of Sweden and Niagara Mohawk.

Town attorney James Bell said the settlement would be dealt with by reductions in taxes for the next few years. "We came to an agreement on how to get this taken care of through 2006," he said.

Bell said Niagara Mohawk thought their assessments were too high and they have filed petitions challenging the town since 1994. "This is a good settlement for the town," he said. "Most municipalities are put into a position where they have to settle but Sweden didn't."

Reaching an agreement with NiMo was in the best interests of the town, Bell said. "There were no court costs or legal fees that might have been incurred if we had to go to court for this."

The difference between what the town assessed NiMo's properties and what they settled for was not that much different, he said.

Town Supervisor Nat O. "Buddy" Lester III said it was a good settlement for the town, as they didn't have to issue any refunds to NiMo.

"I'm glad the town took a stand against a powerful corporation," Lester said. "I'm pleased with the work of the town attorney and the assessor."