[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6537421,"mediaKeyId","3570711-990aeda61ca0537c4d308554f1f8d7d5","parentId",3570711,"title","Sandoval County declares intent to issue up to $497M industrial revenue bond for large solar and battery project","audioSeconds",1203,"startMs",1408000,"endMs",2611000,"viewUrl","/Search/View?dp=1&key=3570711-990aeda61ca0537c4d308554f1f8d7d5&start=1408&end=2611","thumbnailUrl","https://assets.pipeline.soar.com/3570711-990aeda61ca0537c4d308554f1f8d7d5/thumbnail_1408000.jpg","articleUrl","/articles/6537421/Sandoval-County/New-Mexico/Sandoval-County-declares-intent-to-issue-up-to-497M-industrial-revenue-bond-for-large-solar-and-battery-project","mediaUrl","https://secure.pipeline.soar.com/6537421-f4f58b647dcdb8854758b4e5827c6bca/orig.mp4?Expires=1771103282&Signature=SJvMl4hszeFr~seLXHS9zI0224ydnSoUIVvDLyasWTUlXTUbe3kWuSIDPsNg9apaAst86XI2KJi-V5mdN0Br8gtHAgWSBFQxyZiA3h0fRnjjNm1tcl7sKBffGAUtqiYFtlCSuBTg0jCnR~3X4gES33FOutwO7G6iuVvJQBwb1VxmfdfSnO3yZmV3Lk4GsojsygriozKKTVyjRsSt5Uuu3xUpE3wD6ixoTjGJnGYquwXLbjVMkuGtfWKpM9sQhVVrID81Y8dn7llHXqcs~k3GVWHiGjWRqrBG8LRhTa7JgghPYW9HB811FwVZyGD4tP1Nmrh6JgV5ROLxCA2NgTBtLw__&Key-Pair-Id=KUT5TJCACFTXG","author","Sandoval County","date","2025-05-28T00:00:00Z","article","The Sandoval County Board of County Commissioners on May 28 adopted a nonbinding resolution declaring the county’s intent to approve an ordinance that would enable an industrial revenue bond (IRB) of up to $497,000,000 for a solar generation and battery storage facility proposed by PCR Investments SP4 LLC.

County staff and bond counsel told the board the project would include about 220 megawatts of solar and 10 megawatts of battery storage on roughly 1,833 acres on the east side of the Sandia Mountains, near the border between Sandoval and Santa Fe counties. Construction is expected to begin in the second quarter of 2027 and power production to start in the first quarter of 2029, officials said.

The resolution the board approved is a declaration of intent — not the final IRB ordinance — and it authorizes staff to publish a notice of intent, begin drafting bond documents (including an indenture and lease), and negotiate a payment‑in‑lieu‑of‑taxes (PILOT) arrangement. Jill Sweeney, bond counsel with the Taft law firm, summarized the role of the measure: “It really is the starting gun of the race, if you will,” she said, describing the resolution’s purpose to enable subsequent drafting and public notice.

Why it matters: County staff said the project would produce one of the largest non‑Intel IRBs in Sandoval County history and generate substantial PILOT revenue. Under a state formula referenced by staff, county officials expect the county to retain the majority of the payments while about 43% would be shared among the five county school districts; staff provided district allocations under that formula during the presentation.

Key details presented to the board:
- Site and size: about 1,833 acres on the east side of the Sandia Mountains, adjacent to existing high‑voltage transmission lines and near the Diamond Tail (transcript: “Dimetail”) substation referenced by staff.
- Capacity and cost: roughly 220 MW of solar (presented cost about $310 million) and 10 MW of battery storage (presented cost about $187 million).
- Schedule: construction expected to begin Q2 2027; commercial operation expected Q1 2029.
- Contracting and labor: staff said the developer has included a local labor preference in its application and that PNM (the investor‑owned utility identified in the presentation) is expected to buy the project’s output under a 20‑year power purchase agreement (PPA) if selected through PNM’s competitive process.
- PILOT sharing: staff said the project is subject to a 2023 legislative formula (identified in the presentation as “Senate Bill 474, 02/2023”) that allocates school shares by location (50%), school‑district acreage within the county (40%), and district enrollment (10%). Using that formula, staff estimated the county would keep close to 57% of the PILOT revenues and the remaining ~43% would be distributed among the county’s school districts, with staff quoting district‑level shares during the meeting.

Board members asked about pending appeals related to land‑use approvals. County counsel and staff explained that land‑use and zoning challenges are being pursued on a separate legal track from the IRB process; the IRB intent resolution was not stayed and the rezoning remained in effect as of the meeting. County staff also said the developer had filed materials with PNM for the utility’s solicitation, and that the IRB work commonly proceeds in front of, or parallel to, utility procurement and permitting steps.

The board’s action on May 28 was to adopt resolution 5‑28‑25‑12A (declaring the county’s intent to proceed with an ordinance and to draft bond documents). The measure passed on a roll‑call vote of the commissioners present.

Next steps: staff said it will publish the notice of intent, complete draft bond documents, continue PILOT negotiations, and return to the board with an ordinance and final bond documents for a subsequent meeting (staff indicated an anticipated return date in July for ordinance introduction). The land‑use appeals remain pending in district court, a separate process that staff said could affect project timing but does not automatically stay the IRB track.

Ending: The county’s adoption of the intent resolution moves the IRB process into document drafting and PILOT negotiation phases, while questions about zoning and appeals continue on a parallel track in district court.","mediaType","Video","parentTitle","Sandoval County - County Commission - May 28, 2025","oneSentenceSummary","The Sandoval County Board of County Commissioners on May 28 adopted a nonbinding resolution declaring the county’s intent to approve an ordinance that would enable an industrial revenue bond (IRB) of up to $497,000,000 for a solar generation and battery storage facility proposed by PCR Investments SP4 LLC.","taxTitle","Sandoval County, New Mexico","taxId",2697,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6537417,"Sandoval County commissioners approve capital participation, fiscal‑agent authority, budget and labor agreements",223,2737000,2960000,"/Search/View?dp=1&key=3570711-990aeda61ca0537c4d308554f1f8d7d5&start=2737&end=2960","https://assets.pipeline.soar.com/3570711-990aeda61ca0537c4d308554f1f8d7d5/thumbnail_2737000.jpg","/articles/6537417/Sandoval-County/New-Mexico/Sandoval-County-commissioners-approve-capital-participation-fiscalagent-authority-budget-and-labor-agreements","https://secure.pipeline.soar.com/6537417-8c485c048e705e3b3d9b4393cd11cc1a/orig.mp4?Expires=1771103282&Signature=binY0cjEE-G3f8BzJkhkjUWu~xrQeFR6QSPz1sUjAw34xyZu3rkIxR9dPGzuQ83vvyjx~cqNKnKdMpHHVy8Fy3-RvgSnCMZdrfJidotGiVn-J6TJbrMQMVThPKaWGh454f4cIf6OFUyiKAVM0NhDkPzRsrITHY5l509IKGdE6M9TJ08zy7Cy5bVj-EXs95R7j84IPmc2-paqnvTNSTUAha2eTH1O7kvTy0CxTkHBtbzEeshLddJimGrAeFZGHXgaaby~Qe97SXMBP5gyUW3lq5LOlHrRR1~y4whIWRvUWeOI0tW8qn0lb-vsbgl56kUvpkeXkZOSfr0UyT7sIseAkQ__&Key-Pair-Id=KUT5TJCACFTXG","The Sandoval County Board of County Commissioners on May 28 approved a series of resolutions and measures on the consent and regular agenda, including capital participation, fiscal‑agent authority for nonprofits, employee retirement contribution pickup, a preliminary operating budget and a collective bargaining agreement with the county firefighter union.

Votes and key outcomes
- Resolution 5‑28‑25 (Item 11A): The board approved participation in a New Mexico Department of Transportation capital program for Paseo Volcan in the amount of $2,780,000. Staff described this as a request to adopt the county’s participation agreement; the motion passed on a roll call of commissioners present.

- Resolution 5‑28‑25 (Item 11B): The board approved a resolution permitting the county manager to sign purchase agreements and other documents when the county is acting as fiscal agent for nonprofits that have prior BOCC authorization. Staff explained the change will allow the county manager to execute agreements promptly after BOCC approval; any county funding or match requests would still return to the board. The measure passed on roll call.

- PERA pickup (Item 12B): The board adopted resolution 5‑28‑25‑12B to pick up an additional 1.18 percentage points of employee member contributions to the Public Employees Retirement Association (PERA) for non‑represented employees covered by Municipal General Plan 2, Municipal Fire Plan 5 and Municipal Police Plan 5, effective in the FY26 budget. Staff said surrounding employers pick up the full allowable 75% and the county will increase its pickup to the full 75%. The motion passed on roll call.

- Preliminary FY26 operating budget (Item 12C): The board approved a preliminary balanced operating budget for fiscal year 2026. Staff said the budget is preliminary and will be revisited after the fiscal year close; a final adoption is planned at a later meeting. The motion passed on roll call.

- Collective bargaining agreement with firefighters (Item 12D): The board approved a new collective bargaining agreement between Sandoval County and the Sandoval County Professional Firefighters Association Local 4563 for FY26. County staff said the agreement includes raises intended to move wages closer to market and language changes; financial impacts were budgeted in FY26. The motion passed on roll call.

Other action: The board approved the consent agenda and several ceremonial proclamations designating May 18–24, 2025 as National Public Works Week and Emergency Medical Services Week and designating May 2025 as Older Americans Month.

How commissioners framed the measures: Presenters said the fiscal‑agent resolution is intended to speed execution of documents for nonprofits after BOCC authorization while keeping any county match obligations before the board. Staff briefed the board that PERA employer/employee contribution increases are required by statute and the additional pickup is intended to align the county with neighboring employers. The preliminary budget presentation noted the budget is balanced but tight, includes previously authorized new hires and one‑time revenues that will not recur.

Ending: Each of the listed measures was approved by the board on May 28; staff will carry out implementation steps described for each item and return with any required follow‑up actions or final ordinances.","The Sandoval County Board of County Commissioners on May 28 approved several resolutions and routine measures, including capital participation for Paseo Volcan, expanded fiscal‑agent authority for the county manager, PERA contribution pickup for employees, a preliminary FY26 operating budget, and a firefighters’ collective bargaining agreement.","actionData","errors"]

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Sandoval County declares intent to issue up to $497M industrial revenue bond for large solar and battery project

Sandoval County commissioners approve capital participation, fiscal‑agent authority, budget and labor agreements