Kerens ISD conditionally approves tax deals, Navarro County Wind

Kerens ISD conditionally approves tax deals, Navarro County Wind

 Thu, 12/29/2022 – 07:10

 Posted in: 


KERENS–Kerens ISD trustees voted Dec. 12 to approve resolutions conditionally approving two proposed agreements to limit appraised property values related to certain school taxes for two separate wind and solar projects planned within the district.
Both agreements would limit such values as applied to school district maintenance and operations taxes for Navarro County Wind and Gaia Solar. The agreements fall under the Texas Economic Development Act, which is Chapter 313 of the state tax code and which is set to expire Dec. 31.
Kerens ISD Superintendent Martin Brumit said both agreements were approved conditionally because lawsuits will be filed against the Texas Comptroller in relation to the expiration of Chapter 313. As of the Dec. 12 meeting, Brumit said Kerens ISD is not a party to the lawsuit.
However, the board voted to give Brumit authority to initiate appropriate legal proceedings to preserve the district’s legal rights in connection with the two proposed projects. The superintendent also said the board could hold another meeting before the end of 2022 to give unconditional approval to the two agreements.
Board findings approved by trustees show Gaia Solar is a proposed $198 million qualified investment while Navarro County Wind totals $289,634,100 (about 50 wind turbines). Both projects seek waivers from the minimum job creation requirement; Gaia plans one permanent job while Navarro County Wind plans three permanent jobs. Each request $40 million tax limitations.
In other business, the board:
• Approved a budget amendment for Navarro County Wind reimbursing $75,000 in legal and financial advising fees incurred by Kerens ISD, as required by state law.
• Approved a resolution designating Navarro County Wind Reinvestment Zone 1 pursuant to Chapter 312 of the state tax code.
• Approved payments to Jigsaw Financial and Leon Alcala law firm in relation to the wind farm.
• Reapproved the final payment plan between the district and Golden Rule Sign for a new school marquee, funded by Enel Green Power’s Fence Post Solar Project.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s