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Depew trustees accept $125,000 lump sum and credits instead of 25‑year lease payments for Phase 2 solar project
Summary
Trustees authorized the mayor to sign an amended Phase 2 lease retroactive to July 29, 2025. The board discussed choosing a $125,000 lump sum payment and a 15% credit from a different array instead of a 25‑year annual payment schedule.
The Depew Village Board on Aug. 11 authorized Mayor Kevin J. Peterson to sign amended Phase 2 lease documents for the village’s solar project on Broadway, retroactive to July 29, 2025. The amendment changes how the village will be compensated for the Phase 2 installation.
Village staff described two compensation options: a long‑term lease payment stream of $15,000 per year with 3% annual increases over 25 years, or a one‑time lump sum payment. After discussion the board elected to accept a $125,000 upfront payment. Staff also said the village will receive a 15% credit from a nearby solar array in Chaffee that will supply credits the village had expected from Phase 2 under the original compensation design.
In discussion trustees and staff cited current budget needs as a reason for preferring an upfront payment. Staff also noted operational issues at the Lancaster/Chaffee installations and the need to ensure site access and vegetation control; they said the developer has committed to addressing access and signage issues and to providing additional operator training for village staff.
Why it matters: accepting an upfront payment accelerates revenue to the village general fund but foregoes a longer stream of lease income. The 15% credit will be applied to village utility/energy benefits as described by staff. The board recorded a roll call vote authorizing the mayor to execute the amended documents.
Next steps: the administrator will sign the amended lease documents and the village will record the receipt of funds in the general fund. Staff said they will follow up with the developer on site access, vegetation mitigation and signage for the solar array.
