FINANCIAL_SERVICESAPPROVED

Knox County Rolling Plains Solar LLC Tax Abatement Agreement Nov 2024

Knox County OKs Tax Abatement for Solar Project

Annual Payment in Lieu of Taxes equal to $2,136.00 multiplied by total Nameplate Capacity, but not less than $192,240.00 per yearKnox CountyROLLING PLAINS SOLAR LLCNovember 18, 2024

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Description

Knox County, Texas approved a tax abatement agreement with Rolling Plains Solar, LLC providing up to ten years of county property tax abatement in exchange for annual PILOT payments tied to project capacity and long-term operation of a new solar facility. The project must reach commercial operations by December 31, 2028, with improvements remaining in place for at least 25 years after COD.

Contract Details

Contract Amount

Annual Payment in Lieu of Taxes equal to $2,136.00 multiplied by total Nameplate Capacity, but not less than $192,240.00 per year

Vendor

ROLLING PLAINS SOLAR LLC

Agency

Knox County, TX

Contract Type

FINANCIAL_SERVICES

Document Date

November 18, 2024

Contract Term

Abatement period up to ten years; Improvements to remain in place at least 25 calendar years after COD; Project to achieve Commercial Operations on or before December 31, 2028

Renewal Info

Abatement period designated in Section IV(B) for up to ten years; after the abatement period, 100% of the certified appraised value of eligible property becomes fully taxable. No automatic renewal of the abatement term is described in the summary.