Everett sues Baker administration to nix tax deal for power plant

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City officials in Everett are suing the Baker administration to overturn a 1999 agreement that gave a large tax break to a power plant along the Mystic River, across the street from the location of the new Wynn casino.

The tax break was intended to help spur the expansion of the Mystic Generating Station — at the time a $605 million project. But the plant’s owners invested significantly more in the project, $1.3 billion, by the time it was done in 2003.

The result, said Everett officials, is a much more valuable property, and a tax deal that shortchanged the city by as much as $400 million over time.