Payment in Lieu of Taxes Between the City of Laconia and Laconia Town Solar LLC
Type
Ordinance or Resolution
Year
2018
Level
City or Town
State(s)
New Hampshire
Policy Areas
Democracy & Governance, Economic Justice, Energy, Environment & Natural Resources, Finance & Procurement
This agreement between the City of Laconia and the local solar energy company Laconia Town Solar exempts the company's renewable energy generation facility from ad valorem real estate taxes, if they make annual payments in lieu of taxes to the city. These payments are adjusted to reflect the company's electricity yield, and the contract requires payments to be made across the entire 20-year operating term of the facility.