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Torrance County approves inducement resolution for Alamos Power wind project, caps bonds at $1.221 billion
Summary
County approved a resolution declaring intent to issue up to $1,221,075,000 of taxable industrial revenue bonds to induce an Alamos/Pattern Energy wind project (approximately 225 MW in Torrance County). The measure authorizes moving forward with notice of intent and requests further modeling for school‑district PILOT impacts.
The Board approved a Palomas Inducement Resolution May 13 that declares the county's intent to issue taxable industrial revenue bonds (IRBs) up to $1,221,075,000 tied to a multi‑county wind energy project proposed by a Pattern Energy affiliate (Alamos Power). County and company advisors presented project scope and tax‑benefit mechanics: approximately 801 MW total capacity across multiple counties with roughly 225 MW sited in Torrance County.
Jeremy Turner of Pattern Energy and county financial advisor Bob Burpo described the inducement as a tax‑abatement mechanism that would enable purchases and provide property and gross receipts tax abatement tools. Turner clarified the inducement cap applies to the Torrance County portion of the project. Commissioners asked for maps and for detailed models showing how Payments‑in‑Lieu‑of‑Taxes (PILOTs) would flow to affected school districts (Corona, Estancia, Moriarty‑Edgewood and Vaughn); Burpo agreed to model distributions under the new 2023 state law. The board unanimously approved the inducement resolution and substituted an amended project footprint map.
Commissioners discussed community impacts and past contractor responses on safety issues; Chairman Ryan Schwebach cited a prior Pattern response to safety complaints as an example of mitigation the company had implemented quickly in the past. Staff will publish maps of the proposed footprint and hold follow‑up briefings for impacted school boards and communities before any final ordinance or tax agreements are adopted.
