RESOLUTION NO. 148
AUTHORIZING A PAYMENT IN LIEU OF TAXES AGREEMENT WITH RESERVOIR ROAD SOLAR, LLC REGARDING REAL PROPERTY LOCATED AT ROUTE 156 (TAX MAP NO. 47.-1-27) IN THE TOWN OF KNOX
Introduced: 4/14/25
By Audit and Finance Committee:
WHEREAS, The County Executive has requested authorization to enter into a Payment in Lieu of Taxes (PILOT) agreement with Reservoir Road Solar, LLC regarding the development of a five-megawatt solar energy system located east of NY Route 156 (Tax Map No. 47.-1-27) in the Town of Knox, and
WHEREAS, New York State law exempts the value of a solar panel system from local property taxes for a period of 15 years but also permits taxing agencies to enter into PILOT agreements with solar panel system owners, and
WHEREAS, By Resolution No. 192 for 2021, this Honorable Body established the intent of the County of Albany to enter into PILOT agreements for all new solar energy systems with a capacity of 500 Kilowatts or greater, and
WHEREAS, The proposed PILOT agreement would require an annual payment of $5,000 with a 2% annual escalator clause over a period of 15 years beginning on the first taxable status date following completion of construction, now, therefore, be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into a PILOT agreement with Reservoir Road Solar, LLC, Lowell, MA 01851 regarding the development of a five-megawatt solar energy system located east of NY Route 156 (Tax Map No. 47.-1-27) in the Town of Knox, with an initial payment of $5,000, with a 2% price escalator over a period of 15 years, beginning on the first taxable status date following completion of construction, and, be it further
RESOLVED, That the County Attorney is authorized to approve said agreement as to form and content, and, be it further
RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies...
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