FAYETTE CO. TO SEEK INPUT ON OFFERING TAX INCENTIVES FOR PROPOSED SOLAR FARM
Fayette County citizens will soon have the opportunity to voice their opinion on whether the county should offer financial incentives for a proposed solar power farm.
Fayette County Commissioners will hold a public hearing in February regarding a proposed tax abatement for Candela Renewables, LLC, who is looking to build a solar farm in the Flatonia area.
Commissioners set guidelines for tax abatements in 2008 when the county offered an abatement to Dairy Farmers of America, who was expanding its plant in Schulenburg. Those guidelines allow for two tiers of tax incentives.
Businesses investing between $1 million and $10 million and creating at least ten new jobs fall under the umbrella of Tier One, while Tier Two applies to businesses investing over $10 million and creating at least 25 new jobs. Both tiers provide tax incentives spread over five years.
The business would receive a 100 percent abatement on property taxes in year one, meaning it would pay no property taxes. The abatement would fall to 80 percent in year two, and would decrease by 20 percent each year until year six, when the business would be responsible for 100 percent of the taxes assessed on its property.
Candela said previously that it plans to start construction on the solar power farm next June, and begin commercial operations in June 2022.
The hearing is set for February 13th at 9 a.m., at the Fayette County Courthouse.