Apex Clean Energy Development Manager Ben Semmes speaks to the Young County Commissioners Court Monday. The commissioners unaniomoulsy voted Monday to approve a tax abatement agreement with the company for their proposed Young Wind project in Young County.
Leader photo by Mike Williams
Young County Commissioners discuss wind farm agreement
The Young County Commissioners Court Monday voted unanimously on a tax abatement agreement with Young Wind LLC. The agreement was discussed during Monday’s regular scheduled meeting at the Young County Courthouse.
The agreement, which lasts 10 years, was negotiated by Bob Bass of Allison, Bass & Magee, LLP representing Young County and Young Wind LLC, the company created by Apex Clean Energy to manage the wind farm project that is proposed to a 20,000-acre area west of Graham and southwest of Newcastle.
Young Wind will receive a 70% abatement for 10 years, projected to begin in 2023. In that time, the company will pay Young County a projected Payment In Lieu Of Taxes payment of $920,000, due no later than Dec. 1 of each year, beginning the year the abatement is granted. For example, if the commencement date is Jan 1, 2022, the annual PILOT payment would be due by Dec. 1, 2022.
For the rest of the story, see the May 1 edition of The Graham Leader.