Article

Wind farm money plan

The county will be receiving a $150,000 annual gift from the windfarm.... Funds “shall be divided annually in equal amounts,” according to the resolution, “whereas one-third will be utilized for community projects, one-third for economic development projects and one-third for general fund reserves.”

Butler County commissioners have given their approval to a resolution outlining how funds the county will be receiving through an annual gift from the owners of the county's wind farm project will be used.

Oregon-based PPM Energy is the owner of Elk River Wind Farm LLC, located just south of Beaumont.

The county will be receiving a $150,000 annual gift from the windfarm.

Over the course of 14 years the county will be receiving a total of 15 payments of $150,000 each in gifts.

Under terms of the resolution commissioners passed this week proceeds from the gift payments will be “utilized equally for community projects, economic development projects” and the county's general fund reserve.

Funds “shall be divided annually in equal amounts,” according to the resolution, “whereas one-third will be utilized for community projects, one-third for economic development projects and one-third for general fund reserves.”

Net proceeds from the gift payments will be deposited into a fund earmarked for wind farm proceeds.

On an annual basis, those monies will be transferred from that fund into the county's special revenue fund for economic development and into the county's general reserve fund.

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Butler County commissioners have given their approval to a resolution outlining how funds the county will be receiving through an annual gift from the owners of the county's wind farm project will be used.

Oregon-based PPM Energy is the owner of Elk River Wind Farm LLC, located just south of Beaumont.

The county will be receiving a $150,000 annual gift from the windfarm.

Over the course of 14 years the county will be receiving a total of 15 payments of $150,000 each in gifts.

Under terms of the resolution commissioners passed this week proceeds from the gift payments will be “utilized equally for community projects, economic development projects” and the county's general fund reserve.

Funds “shall be divided annually in equal amounts,” according to the resolution, “whereas one-third will be utilized for community projects, one-third for economic development projects and one-third for general fund reserves.”

Net proceeds from the gift payments will be deposited into a fund earmarked for wind farm proceeds.

On an annual basis, those monies will be transferred from that fund into the county's special revenue fund for economic development and into the county's general reserve fund.
 
Also annually, approximately $50,000 will remain in the wind farm fund, with that money to be used for community projects.

Under terms of the resolution, “those funds deposited in the special revenue fund for economic development shall be used only for purposes associated with the development of property, economic development incentives and projects associated with the advancement of eonomic development projects in Butler County.”

Funds deposited in the county's general reserve fund will be utilized for “general governmental purposes” as designated by the Butler County Commission.

Under terms of the resolution, funds remaining in the wind farm fund will be used for community projects approved by county commissioners.

On an annual basis, applications for funding of community projects will be made to commissioners, with funding decisions to be made “based on merit, need and priority.”

Projects approved “should benefit a broad base of the county residents or a specific community project as designated by the county commission,” according to the resolution, which also states funds “will be utilized only for specific projects and will not be utilized for appropriations to agencies or groups for operational support.”

The resolution also provides “funds should be utilized for projects where all other resources have been exhausted.”


Source: http://www.eldoradotimes.co...

JUL 4 2006
http://www.windaction.org/posts/3334-wind-farm-money-plan
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