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Board authorizes Third Amendment to solar ground lease, adds building-permit deadline
Summary
The board authorized the Town Supervisor to sign a Third Amendment to the ground lease (Nexamp/Baileys Gap Solar) that revises development and operations periods and adds a clause allowing the town to terminate the lease if a building permit is not obtained by July 1, 2025.
Supervisor Corcoran moved to authorize execution of a Third Amendment to the ground lease for a solar project originally entered with Nexamp (assigned to Baileys Gap Solar, LLC). The amendment revises Section 4 to redefine the Development and Construction Period (ending by April 28, 2027 or earlier), clarifies the Operations Period (25 years from Commercial Operation Date with two extension options), and allows the Tenant to terminate pre-Commercial Operation Date with 30 days' notice.
The amendment also adds a new subsection permitting the Landlord (the Town) to terminate the lease if the Tenant has not obtained a building permit for construction of the facility by July 1, 2025. The resolution authorizes the Town Supervisor to sign the Third Amendment; the board adopted the resolution unanimously.
