ANDERSON — A request for a 10-year tax abatement for the proposed Lone Oak Solar Energy Center is expected to be considered by the Madison County Council.
The County Council meets at 6 p.m. Tuesday and is scheduled to consider the request from Invenergy for a 100% tax abatement once the proposed $110 million project is completed and is expected to generate 120 megawatts of electricity.
Invenergy is seeking a traditional 10-year abatement (100% abatement on investment the first year, even-declining abatement of 10% per year, until project is paying 100% taxable value at year 11) based on the minimum investment.
The company has agreed to make an $850,000 payment to the county as early as 2021 or once the project is completed.
The Madison County Board of Zoning Appeals voted earlier this year to approve two special exceptions for the development.
The BZA in May approved a special use for the Lone Oak Solar Energy Center on 850 acres of ground.
The company said the additional acreage was required because the BZA set a 500-foot setback from nonparticipating land owners’ property lines.
An appeal has been filed by opponents of the project concerning the initial approval and anticipates a second appeal following the September vote by the BZA to expand the project area by 350 additional acres.
The Madison County Council voted to delay any action on the requested tax abatement by Invenergy until the BZA voted on the requested special exceptions.
When E.on developed the wind farm in northern Madison County the council approved a 10-year tax abatement in 2011.
In exchange for a 10-year tax abatement, the company provided $1.3 million to Madison County for economic development.