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Richmond Solar proposes yearly tax payment

July 17, 2014

RICHMOND — At Tuesday night’s town council meeting, Richmond Solar asked for a tax agreement for its proposed solar farm on Stilson Road that included paying a yearly lump sum to the town in lieu of tangibles taxes, which are normally levied on business equipment. The lump sum did not include Richmond Solar’s property taxes, which the company would pay for its two and a half acre site located off of Stilson Road.
Nexamp Project Developer Palmer Moore, who is also a principal at Richmond Solar, presented the proposal, which included paying $3,000 per year in lieu of the $29,000 per year tangibles tax.
The project is a ground-mounted solar array that will produce about 600 kilowatt hours a year, which is the equivalent of the electricity needed for about 100 homes. The planning board unanimously approved the project in May.

For more of this story pick up a copy of The Chariho Times.

Source 
Southern Rhode Island Newspapers
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