GCEDC board approves incentives for solar farm on Pearl Street Road
The Genesee County Economic Development Center (GCEDC) voted to approve incentives for the construction of two 2MW community solar farms for a combined total of 4MW at 2901 Pearl Street Road. The developer, Pearl Solar LLC will invest approximately $6 million investment and will receive incentives of approximately $472,000 in sales and property tax exemptions.
“While we were concerned about the fact that the project will only create one job, there are other temporary economic impacts such as construction and installation jobs as well as benefits to the local community in approving a renewable energy project of this nature,” said GCEDC Board Chairman Paul Battaglia.
Among the benefits of the project include: an enhanced property tax payment through a 15-year PILOT (Payment In Lieu Of Taxes) resulting in approximately $311,000 in property tax payments to Genesee County and the Pembroke school district; energy discounts of 10 percent for local residents who sign an agreement with the company to purchase solar energy from the project(s); and, a community benefit agreement in which Pearl Solar will make a $50,000 donation to the Genesee County STEM2 STAMP workforce development program when the two projects are completed.
“This project fits into our local economic development strategy and marketing alignment as we are finding that renewable energy is becoming a preference item for site selectors or companies conducting site location searches,” said GCEDC President and CEO Steve Hyde. “The project also will have no carbon footprint, providing environmental benefits to local residents and just as important it aligns with Governor Cuomo’s Reforming the Energy Vision (REV) initiative.”