GATE CITY Scott County supervisors are waiting to hold a public hearing next month before voting on a property tax exemption for solar equipment that would benefit a local energy project.
The tax break a 100 percent exemption projected to total almost $300,000 over the next 10 years would apply to 1,800 solar panels being installed in Duffield through a partnership of the Lenowisco Planning District Commission, Scott County Economic Development Authority and Staunton, Va.-based Secure Futures, LLC.
The solar project is part of a 10-year power purchase agreement that would supply green energy to the Pioneer Business Center and Crooked Road Technology Center.
The $3 million project is funded in part through a $1.75 million research and development grant from the Virginia Tobacco Commission. Additional funding was obtained through state and federal sources. Secure Futures also contributed roughly $250,000 of its own capital to the project.
Representatives from Secure Futures the firm that will install and maintain the solar panels and the Scott County EDA lobbied supervisors for the exemption at the board’s July meeting.
Read the expanded version of this report in the print edition or the enhanced electronic version of the Kingsport Times-News.
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