EPHRATA - Moses Lake city officials are meeting Monday with Grant County commissioners to discuss a possible change to the REC Silicon agreement reached in February.

According to City Manager Joseph Gavinski, Moses Lake is set to lose $3.5 million because the company's property assessment dropped in the past three years.

Under a current settlement between the city and county, Moses Lake pays the county $1.75 million per year until 2015 for revenue sharing, but because the assessed value of REC Silicon was dramatically reduced, corresponding property taxes were also reduced, Gavinski wrote in a letter to county commissioners.

According to the settlement agreement, the agreement can be modified, amended or waived.

Moses Lake Mayor Bill Ecret called for a special city council meeting. County commissioners agreed to listen to a proposal from city officials to lower its remaining payments to the county.

The meeting is open to the public and scheduled for 11 a.m. Monday at the Grant County Commissioner's Hearing Room in Ephrata, at 35 C St. NW.