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Pulaski County debates Mammoth solar deal as guaranty term becomes sticking point
Summary
Commissioners spent the bulk of the meeting debating an economic development agreement for the Mammoth Grazing Lands (a Mammoth Pasture solar project) that would replace personal-property taxes with payments over 20 years; the board pressed the developer on why the guarantor term is five years rather than covering the life of payments and asked staff to clarify guarantees, bonds and successor protections before signing.
Pulaski County commissioners on Dec. 1 engaged in an extended review of a proposed economic development agreement and personal-property abatement for the Mammoth Grazing Lands LLC project, a utility-scale solar development proposed by Doral-related entities.
County counsel and outside counsel from Barnes & Thornburg described the deal as a development-payment arrangement that would produce payments spread over 20 years, with staff citing a total payment stream in the tens of millions of dollars (staff referenced roughly $64.5 million over the full payment term and discussed net-present-value comparisons to several years of traditional property-tax receipts).
The commissioners’ central concern was the length and structure of the developer guaranty. County staff and the developer’s counsel said the agreement includes a guaranty that is front‑loaded to cover construction risk and is limited to an initial five‑year period commencing with…
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