Press Release:
The Genesee County Economic Development Center (GCEDC) board of directors accepted a final resolution for GSPP Route 262, LLC’s 5-megawatt (MW) community solar project at its board meeting on Thursday. The project’s total capital investment is estimated at $13 million and will be located in the town of Byron.
Agreements negotiated for GSPP Route 262, LLC’s project PILOT would generate $4,000/MW (AC) + a 2% annual escalator of revenue to Genesee County, the Town of Byron, and Byron-Bergen Central School District.
This project is estimated to generate a $627,303 increase in property-tax type revenues to host municipalities resulting in $5.14 in revenue for every $1 generated from the property’s current use.
GSPP Route 262, LLC requested a sales tax exemption of $1.056 million, a mortgage tax exemption of $70,993, and a property tax exemption of $778,344.
