Exhibit A to Preliminary (Declaratory) Resolution of the economic revitalization area provided by Paddlefish Solar.
Paddlefish Solar is pursuing a 10-year tax abatement for the development of property in Wells County.
In these 10 years, Paddlefish Solar would be 100 percent exempt from paying tax on the property but would provide economic development payments of at least $8.5 million.
Paddlefish Solar presented the County Council with a preliminary resolution to create an Economic Revitalization Area for this property tax abatement. This document outlined a project boundary over parts of Liberty and Chester Townships.
The County Council unanimously agreed to move forward with this process during their Wednesday meeting and scheduled a hearing for their next meeting on Dec. 6.
At this meeting, the council will have time for public comments and discuss the resolution. If settled, the council members could also vote on the resolution.
Senior Project Developer Jesse Laniak noted that the map showed areas that could be developed, but it was not a guarantee it would be. The specific information about the project, including how much the county would receive, would be determined as the project goes into permit and planning in front of the Area Plan Commission.
Laniak said Paddlefish Solar could develop a project worth up to $350 million in the area. Depending on the extent of the company’s development, its payments to the county could exceed $11 million.
Payments to the county could begin as soon as 2025. The use of this fund would be at the discretion of the county.
Council Member Vicki Andrews noted that the council could use some of these funds toward supporting the townships’ local school district, Southern Wells Community Schools.
Richard Hall, attorney at Barnes and Thornburg, is assisting in the process. Hall stated because payments wouldn’t begin for some time, the county could take time to consider what purposes that fund could have.
“There’s some time here, and (county) needs could possibly change,” Hall said.
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