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Albany County agrees to 15-year PILOT with Reservoir Road Solar for 5 MW array
Summary
Legislators authorized a 15-year payment-in-lieu-of-taxes (PILOT) under Real Property Tax Law §487 with Reservoir Road Solar for a proposed 5-megawatt array; the agreement would pay $1,000 per megawatt annually with a 2% escalator.
The committee authorized a proposed 15-year pilot agreement under New York Real Property Tax Law §487 with Reservoir Road Solar for a proposed 5-megawatt solar array.
The nut graf: Under the draft agreement county staff said the project would pay $1,000 per megawatt per year (initially $5,000) with a 2% annual escalation over 15 years; staff said the first…
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