Twin solar projects prepared for Chautauqua County | Small business Area

Dimension Renewable Electrical power, which develops neighborhood solar assignments and utility vitality storage devices, desires to place up a pair of solar-panel arrays on 44 acres of land it would buy in the Town of Sheridan, at 3323 Werle Road.

Each tasks – by Sheridan CSG 1 LLC and Sheridan CSG 2 LLC, respectively -would create 4.125 megawatts of photo voltaic electricity, and just about every would price $7.225 million to build, funded fully by Dimension.

The developer is asking the Chautauqua County Industrial Progress Company for $289,000 in revenue tax added benefits and an unconventional 25-year payment-in-lieu-of-taxes gain for its residence taxes on every single project, but on the enhancements only, not the land.

“With no the agency’s assistance, this challenge is not economically feasible,” the enterprise explained in its software to the IDA.

The annual tax payment would begin at $3,800 for every megawatt – or $15,675 for every venture – and enhance by 2% a yr, in the long run reaching $25,212 for every single undertaking in the remaining yr. That’s a complete of just above $500,000 in payments for just about every challenge around 25 several years, or $1 million.