BUCHANAN, N.Y. (CBSNewYork) – The closing of the Indian Point nuclear power plant in Westchester County might solve one problem, but it’s created a new set of concerns for the surrounding towns.

As WCBS 880’s Peter Haskell reported, Indian Point pays $32 million in state taxes, and provides 50 percent of the budget for the Village of Buchanan.

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READ: When Indian Point Closes, What Happens To Its Nuclear Waste?

As long as there are spent fuel rods on the site, it cannot be redeveloped. In the meantime, Buchanan Mayor Theresa Knickerbocker wants a separate payment.

“All communities should be compensated for becoming a de facto storage facility,” she said.

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Congresswoman Nita Lowey has proposed legislation to ensure the plant is safe and to provide funding to local communities.

“By allowing the Nuclear Regulatory Commission to license interim storage facilities elsewhere in the country,” she said.

The Hendrick Hudson school district receives 30 percent of its budget from the plant.

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“This is a catastrophic financial calamity that we’re facing,” said Superintendent Joseph Hochreiter.