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Commission approves inducement resolution for Blackwater Solar Center industrial revenue bonds
Summary
Roosevelt County commissioners unanimously approved Resolution 2024-34, an inducement resolution for Industrial Revenue Bonds for the Blackwater Solar Center, with counsel stating the bonds will not be county debt and the project will provide PILT payments.
The Roosevelt County Commission unanimously approved Resolution 2024-34 on Oct. 1, an inducement resolution related to potential taxable Industrial Revenue Bonds (IRBs) for the Blackwater Solar Center, LLC project.
Attorney Peter Kelton of the Rodey Law Firm described the resolution as an inducement step that allows the project to pursue IRB financing. Kelton told the commission the IRBs would not be a county debt and that the project is expected to provide payments in lieu of taxes (PILT). The resolution was moved and approved by roll call with all four commissioners voting yes.
Commission discussion did not record specific PILT amounts, project acreage, power capacity or final bond terms; Kelton characterized the measure as an inducement resolution rather than a final bond issuance. The commission did not take any additional approvals related to tax abatements or final bond issuance at this meeting.
As an inducement resolution, the action signals local government support for the developer to pursue financing and regulatory steps; subsequent actions, statutory notices or board approvals will be required to finalize bond issuance and any tax incentives.
The commission's action was limited to the inducement resolution; staff and counsel will return with any required follow-up documents if and when the project advances.
