Town of Cherry Valley

COMPANY OFFERS CASH FOR CV WIND POWER:

Reunion Power has proposed paying at least $300,000 a year in lieu of taxes if it is allowed to build 24 wind turbines in Cherry Valley.

David Little, project manager of the firm’s proposed Cherry Valley Wind Farm, said the payment-in-lieu-of-taxes agreement (PILOT) would be administered by the Otsego County Industrial Development Agency.

"We think it’s a generous offer, and we hope the people of Cherry Valley do, too," Little said.

The proposal would likely generate $375,000 a year to be split by the town of Cherry Valley, the Cherry Valley-Springfield Central School District and Otsego County, Little said.

"The agreement has a floor of $300,000 a year, and then the community would share in the upside of the project," Little said. The more wind energy produced in Cherry Valley, the more money the community would receive.

Reunion estimates the PILOT will produce $375,000 annually, or about $7.5 million over 20 years.