Dive Summary:
- A unanimous decision was reached by the Board of Selectmen to a payment in lieu of taxes agreement with Urban Green Technologies Renewable Energy that will place almost 20,000 solar panels on the Shaffer Landfill.
- This proposed renewable energy resource could potentially bring in $2,956,675 in property and real-estate taxes while lowering residential electricity costs.
- In 2011 UGT proposed placing solar panels on the vacant site, which has been listed on the EPA's "Priorities List."
From the article:
The PILOT agreement is front-loaded, so the town would receive $1.3 million in real- estate and property taxes after six years, an average of $221,000 each year; then Billerica would receive $85,742 annually for the next 19 years of the agreement.
In addition, UGT has agreed to pay $400,000 in outstanding taxes owed to Billerica. There is about $1 million in unpaid taxes at the capped landfill.
The PILOT agreement needs official approval at the fall Town Meeting.