top of page
  • IL Rochelle

Putnam County Approves Abatement for Cold Spring Solar Farm

From the Greencastle Banner Graphic:

A proposed solar farm in Russell Township took a step toward completion Tuesday evening.

In a 5-2 vote Tuesday evening, the Putnam County Council approved tax abatement for Cold Spring Solar Farm, a proposed 200 megawatt solar farm.

Council President Dave Fuhrman made the motion, which was seconded by Councilman Phil Gick.

The affirmative votes were cast by Fuhrman, Gick, Stephanie Campbell, Keith Berry and Danny Wallace, while Jay Alcorn and Larry Parker dissented.

In introducing the proposal, Greencastle-Putnam County Economic Development Director Kristin Clary noted that the nature of the abatement — 75 percent of personal property taxes abated over 10 years — was different from prior local abatements.

“This is unique,” Clary said. “We’ve never done this before.”

Also noted during the proceedings was that the abatement only applies to the personal property (that is, the equipment) and not the land itself. Clary said that once the land is no longer used for agricultural production and moved to energy generation, its taxable value will increase nearly tenfold.

20 views0 comments


bottom of page