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Vigo County commission clears resolution enabling short-term loan for airport solar project
Summary
The county commission approved a preliminary resolution allowing the airport authority to seek a short-term $600,000 loan from the Terre Haute Redevelopment Commission to cash-flow a planned three-acre solar installation while awaiting grant and federal tax-credit reimbursements.
The Vigo County Commission on an unrecorded voice vote approved a preliminary resolution allowing the airport authority to seek a short-term loan of up to $600,000 to cash-flow construction of a planned three-acre solar facility.
Scott Craig, attorney for the airport authority, told commissioners the project’s total cost is $2,600,000 and that the airport has received a $500,000 grant from the Indiana Office of Energy Development and expects about $1,000,000 in federal "elective pay" tax-credit reimbursement after the project is complete. "This bond will be used…
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