Hanover solar project gets county IDA backing
A solar farm proposed in the town of Hanover has received financial assistance from the Chautauqua County Industrial Development Agency. The assistance will come in the form of a Payment in Lieu of Tax (PILOT) agreement.
Hanover PV, LLC, along with its parent company RIC Energy, is proposing a 5-megawatt solar farm at 1317 routes 5 & 20 in Silver Creek. The solar panels would be placed on 31 acres of a 45 acre parcel and is expected to cost around $6.9 million.
The county IDA, at a meeting Tuesday morning, agreed to the PILOT providing real property tax abatement, sales tax abatement, and mortgage recording tax abatement for the project.
The development will be situated about 12 acres back from the road at the far rear portion of a 45-acre parcel that has been actively marketed for development by the landowner for over 10 years. The 12 acres of real estate frontage remains available for future retail or commercial development.
“We are pleased to be working with the Chautauqua County IDA to implement our shared goal of supporting the economic health of the region while building the clean energy infrastructure of the future with the construction of the Hanover Solar Farm,” said Jon Rappe, company president of RIC Development.
“The land on which the project will be built is commercial property on Routes 5 & 20 owned by Rattlesnake Enterprises, LLC. The value of the property will be enhanced significantly by dedicating the road frontage to future retail while using the rear portion of the lot to collect lease revenue from the solar farm. As it quietly produces clean energy for the next 30 years at a community scale, it will add diversity to the production economy of Chautauqua County while being a good neighbor to the surrounding community of Hanover.”