The Knox County Council has voted in favor of a preliminary resolution regarding a planned solar and battery storgage project.
The resolution deals with an economic development agreement with Iona Solar LLC regarding a proposed project in Harrison Township in southern Knox County. It designates the area of the project as an Economic Revitalization Area and sets up a proposed 10-year real and personal property tax reduction schedule.
County officials say that the company will invest an estimated $800 million dollars in the field and battery storage area and is not seeking a traditional tax abatement. They also touted that revenue generated would provide additional funding for local taxing bodies.
Council leaders also emphasized that the move was just an initial step in the approval process. There will be public hearings scheduled in the future to allow for comment and the matter still has to go to the Knox County Area Plan Commission (KCAPC) for review and acceptance.
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