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County approves tax abatement

County Commissioners approved a reinvestment zone and tax abatement for AES Seawest, Inc., following a public hearing on the matter held Wednesday morning.

Vice President of AES Seawest, Inc. Mike Azeka, was on hand to give the commissioners' court and update on the current projects and to answer questions. Azeka informed commissioners that the first phase of the project is completed and is now operating successfully. AES Seawest, Inc., is now working to bring on further phases, which will include about 13,000 acres they have optioned in Nolan County.

Azeka stated that one problem arising is the shortage of wind turbines. According to Azeka, costs of turbines are 40 percent higher now than 14 months ago. He said manufacturers are sold out for 2006 and 2007, but AES Seawest, Inc. has secured an agreement with General Electric for delivery of turbines.

Azeka said construction of phase two would start late this year and be completed by the middle to end of next year. AES Seawest, Inc. was asking commissioners' to delay the beginning date of the tax abatement for one year and have it end 10 years later.

Under the agreement, AES Seawest, Inc., would receive a 60 percent abatement the first five years and a 40 percent abatement the next five years.

Several local and area residents were present during the public hearing to express their support of... more [truncated due to possible copyright]  
Vice President of AES Seawest, Inc. Mike Azeka, was on hand to give the commissioners' court and update on the current projects and to answer questions. Azeka informed commissioners that the first phase of the project is completed and is now operating successfully. AES Seawest, Inc., is now working to bring on further phases, which will include about 13,000 acres they have optioned in Nolan County.

Azeka stated that one problem arising is the shortage of wind turbines. According to Azeka, costs of turbines are 40 percent higher now than 14 months ago. He said manufacturers are sold out for 2006 and 2007, but AES Seawest, Inc. has secured an agreement with General Electric for delivery of turbines.

Azeka said construction of phase two would start late this year and be completed by the middle to end of next year. AES Seawest, Inc. was asking commissioners' to delay the beginning date of the tax abatement for one year and have it end 10 years later.

Under the agreement, AES Seawest, Inc., would receive a 60 percent abatement the first five years and a 40 percent abatement the next five years.

Several local and area residents were present during the public hearing to express their support of approving the reinvestment zone and tax abatement for AES Seawest, Inc. AES Seawest, Inc., has hired more than 60 local companies and businesses in Nolan and Taylor counties.
Area residents and business owners stated that AES Seawest, Inc. has kept their word and hired local businesses to perform work and that granting them this abatement is good for the local economy.

Source: http://sweetwaterreporter.c...

FEB 17 2006
http://www.windaction.org/posts/1345-county-approves-tax-abatement
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