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Council and vendor discuss tax credits, LMI bonus window and application flexibility
Summary
Priority Power told council the project could capture investment tax credits and a 20% LMI bonus; the vendor said the priority window closed late February but general applications run through Aug. 1 and an application tied to a site can be withdrawn and resubmitted to change location.
Priority Power outlined federal investment tax credits (ITC) available under recent energy law and said projects can qualify for a baseline 30% credit plus additional domestic‑content and low‑to‑moderate‑income (LMI) bonuses. The vendor said a municipality is a high‑priority owner category and that the LMI bonus application window includes a priority period (ended Feb. 28) and a general window through Aug. 1; they also said an application can be withdrawn and resubmitted if the project site changes.
Council members expressed concern about having a location tied to an application and asked whether withdrawing would jeopardize priority. The vendor responded withdrawing slightly weakens the time‑stamp priority but does not change the owner priority for a municipality. Council directed staff to track award timing and to assume base ITC treatment (40% in the vendor’s example including domestic content) when evaluating decisions, treating any LMI bonus award as an upside.
