N.C. Property Rights Coalition joins the fight to stop government takeover of Alcoa’s private hydro business

A prominent property rights organization is joining the fight against a proposed government takeover of the Yadkin Project, a privately-owned hydro business along the Yadkin River.

The N.C. Property Rights Coalition, led by Raleigh lawyer Kieran Shanahan, is taking an increasingly active role in the legislative battle over a proposed government takeover of the Yadkin Project. The organization will be working to educate the people across North Carolina about the state’s unprecedented assault on private property rights. Alcoa is a financial supporter of the coalition.

If successful, the takeover of Alcoa’s privately-owned business could cost North Carolina more than $500 million and set a dangerous precedent that could make it more difficult to attract new business and jobs to our state. Business owners and individuals are asking the same question: “If this can happen to Alcoa, who’s next?”

The N.C. Property Rights Coalition took a stand on this preeminent property rights issue early on, and we welcome their support in our fight to protect our private property. We have been doing business in North Carolina since 1915 and look forward to continuing generating clean, renewable energy along the Yadkin River.

Visit http://ncpropertyrights.com/ to learn more.

High Point Enterprise criticizes N.C. Senate vote, says bill amounts to "forced takeover of private property by state government"

The High Point Enterprise published an editorial today criticizing the N.C. Senate’s vote last week to approve a bill that would pave the way for a government takeover of Alcoa’s privately-owned hydro business along the Yadkin River.  The editorial harshly criticizes the “forced takeover of private property by state government in order to reap financial benefits of that company's business.”

The entire editorial is posted below:

State government takeover of hydroelectric power generating property along the Yadkin River moved a step closer to a disappointing reality last week as the N.C. Senate voted 44-4 to approve a bill creating the Yadkin River Trust.

If approved by the House and signed into law, that innocently enough sounding entity would move to take over Yadkin River dams and lakes owned by Alcoa Power Generating Inc. Alcoa, however, prefers to continue owning and operating the plants to produce electricity as it has for more than 70 years.

Unfortunately, all of our area state senators supported this bill, which amounts to a forced takeover of private property by state government in order to reap financial benefits of that company's business.  We've heard it said many times that the citizens of the state own their water resources, such as the Yadkin River, and this is true.  But this argument over the federal relicensing of Alcoa Power Generating has become a move by state government to take over that business and its assets to grab the tens of millions of dollars worth of electricity that Alcoa generates each year.

Certainly, there are issues with Alcoa that still need to be addressed during the permitting process, particularly cleanup of the company's abandoned aluminum plant at Badin Lake in Stanley County. There also are unresolved issues related to High Rock Lake in Davidson County, including agreements on lake levels throughout the year. And then there's the question of how much Alcoa should pay federal, state and local governments under terms of a new permit, if granted.

But none of these issues rise to levels that justify a state government takeover/buyout of private property and a private business - especially one that is producing huge amounts of clean energy - just because the state sees potential profit there. 

N.C. Property Rights Coalition criticizes North Carolina’s effort to seize Alcoa's private property

The chairman of the N.C. Property Rights Coalition issued a statement today that criticizes efforts by the State to North Carolina to takeover Alcoa’s privately-owned hydropower business and encourages residents to “speak out in defense of their private property rights.” 

The complete statement is posted below:

Chairman of N.C. Property Rights Coalition speaks out on State's effort to seize Alcoa's private property in North Carolina

RALEIGH, NC – Kieran Shanahan, Chairman of the N.C. Property Rights Coalition, today issued the following statement regarding the State of North Carolina’s efforts to seize private property owned by Alcoa: 

“The North Carolina Property Rights Coalition is greatly concerned about the attempt by state government to take over Alcoa’s property in North Carolina.  Alcoa is a private business that paid for and developed the land it owns.  If the state is allowed to seize Alcoa's property, how vulnerable are private citizens and small business owners to the same type of government takeover?  Private property rights are one of the cornerstones of our free society, yet every day we hear more stories of federal, state and local governments infringing on private property rights.  Private property owners all over North Carolina should take notice of this issue and speak out in defense of their private property rights.” 

Background Information on the situation is available here: http://ncpropertyrights.blogspot.com/2009/04/federal-government-grants-state-of-nc.html

The North Carolina Property Rights Coalition (NCPRC) is a 501(c) (4) non-profit organization which advocates public policies which advance and protect the rights and interests of property owners in North Carolina. More information on the N.C. Property Rights Coalition is available at www.NCPropertyRights.com.