A proposed wind farm brings an opportunity for Appanoose County to gather millions for economic development projects, financial advisers told county leaders Monday.
Well over 100 wind turbines are proposed in a project that includes land in eastern Appanoose County and western Davis County in Iowa, and northern Schuyler County in Missouri.
Advisers from Northland Securities made a preliminary presentation to the Appanoose County Board of Supervisors Monday, largely informing them of the potential.
It would involve TIF financing, which would use the new tax dollars from the development and use it in the area to improve various things. A popular use in other counties with similar setups is road and bridge repair.
Chip Schultz, managing director at Northland Securities, said if just 35 turbines end up inside Appanoose County the county could see as much as $12.5 million over a 20-year period. Minus financing costs, between $8.2 million and $9.4 million would be available for road and bridge improvements.
“So the county is able to accomplish that amount of improvements without having a debt service levy put in place across taxpayers countywide,” Schultz said.
The money can be used for other purposes as well, essentially relying on the county’s decision of economic development, Schultz said.
Schultz said currently there’s a 90 percent rollback on wind turbines, but legislation in the state could soon end that rollback. Such a move would mean an increase in what the county could expect to receive through a TIF district.
No action was taken on the item, as it was intended to inform the supervisors of the possibility as the project continues to move forward.
In other action:
— The board approved the hiring of Gary Buckallew as a deputy sheriff with the Appanoose County Sheriff’s Office. He will replace Deputy Dennis Daniels, who is retiring on April 29. Buckallew has been an officer with the Centerville Police Department for 17 years.
— An amendment to the county’s current fiscal year budget was approved, following a public hearing which drew no comments. The amendment budget adds $72,726 in expenses and $4,976 in revenues. Overall, it increases the estimated budget deficit to just under $2.5 million. If that holds true, the county would have just shy of $5 million in reserve funds.
— During public comments, Larry Golic again spoke out against road conditions county-wide, but specifically on 210th Street, where a school bus crashed last week. Golic said potholes on the road are numerous. Appanoose County Secondary Roads determined the road didn’t play a factor in the accident but that law enforcement’s investigation is ongoing. Golic renewed his desire for additional rock to be available for county roads to improve their condition.
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