Allows for TIF in the future, but no plans for that now
The Greene County board of supervisors held a public hearing Dec. 14 and then approved a resolution amending the Beaver Creek Wind Farm urban renewal plan to include the wind turbines erected in 2018.
Although a public hearing held by the county board of adjustment in 2017 as part of the permitting process for adding the 85 turbines to the 41 previously built lasted longer than two hours, only one person commented at the Monday hearing. Rick Morain, attending as a member of the press, spoke in favor of the resolution. No written comments were received.
The city councils of towns that are within two miles of the urban renewal district – Dana, Paton and Grand Junction – have approved joint agreements allowing the county to operate within the district.
Adding the new turbines to the urban renewal area makes it possible for the county to draw tax increment financing (TIF) funds from that project. That would allow the county to capture the increased tax revenue for the property as compared to the taxes paid on it before the turbines were erected.
The county is using TIF funds from the first set of turbines to fund construction of the regional career academy on the new Greene County High School campus. TIF funds must be used for economic development purposes, and the career academy is deemed to fit that purpose. The county has $5,655,707 in general obligation debt for the project, with payments coming from TIF revenue.
The resolution approved Monday specifies the amendment does not add any new projects to the plan and does not propose any additional indebtedness.
There is a time limit for adding new improvements to an urban renewal district to allow tax increment financing. The amendment leaves the option open should the county want to draw TIF from the additional wind turbines sometime in the future.
The supervisors waived the second and third readings of the amended ordinance. It will go into effect after it is published in the county’s official newspapers.
The ordinance is included in the meeting proceedings. A link to the proceedings is posted under the Calendar/Agenda tab on GCNO.
In other business, the board heard a request from Greene County Development Corporation director Ken Paxton that the county continue its $50,000 per year financial support. Paxton highlighted completed and ongoing housing projects, including efforts to promote housing in towns other than Jefferson.
