County On Board With Wind Project Tax Abatement
Will Grant 100 Percent Tax Abatement for Fixed Payment in Lieu of Taxes
The Reagan County Commissioners approved an agreement with Invenergy LLC to grant a 100 percent tax abatement over 10 years for the company’s $225 million wind farm project.
In exchange, the county will receive a fixed payment in lieu of taxes that will bring $2,610,000.00 into its coffers over the 10 year length of the abatement.
Reagan County Commissioner Tommy Holt told Invenergy’s representatives that he is working to make sure the county gets the best deal possible.
“This couldn’t be coming at a better time for us,” Holt said. “This is a good chance to diversify our economy, and bring jobs to our county. I just want to make sure the county isn’t giving it away in the end.”