Settlement Agreement Signed by Freedom Board of Selectmen
At last night’s Board of Selectmen meeting a settlement agreement was signed by two of the selectmen, Steve Bennett and Kenny Overlock, with Beaver Ridge Wind, LLC. Selectman Ron Price abstained from voting or signing.
The Town of Freedom has agreed to maintain the previously assessed valuation of the Beaver Ridge Wind project at $9,872,011 for the 2014 tax year. A condensed version of the agreed upon depreciation schedule: 0% for 2014 – 7.5% 2015 thru 2018 – 3.5% S/L beginning in 2019 until turbines have reached 35% of their beginning value in 2029. The value of the project after 2029 will be $3,455,204.
It was pointed out that this agreement is only binding for the years 2014 and 2015 and can be challenged by the current, or future, assessors in subsequent tax years.
It appeared, to those present at the meeting, that both selectmen were hesitant to sign the agreement, but felt that it was the best solution available to the town.
There was a lot more discussion involved, but I have to work tonight so it will have to wait for now. I’ll put out a more detailed post soon, as well as a copy of the signed agreement when I get a moment.