Nys Pilot Agreements
Given the complexity of these agreements, school officials should consider working closely with their school rights specialist and an energy expert when negotiating a pilot. If a municipal body does not object to the law, the solar energy system is entitled to a 15-year tax exemption. RpTL 487 (9), however, offers the local tax authorities the option of requiring the owner of an exempt eligible project to enter into a PILOTE agreement within 60 days of the date on which the project owner first intends to install a solar installation. Under a PILOTE agreement, the owner of the solar project agrees to make payments to the local unit instead of paying taxes. Agreements are negotiated between the parties and generally last for fifteen years. Payments under the agreement should not go beyond what the owner of the solar project would have paid if the project would have been taxable. Merrill has a fortune 200 companies and other clients in the development and financing of more than 80… The decision is remarkable because it is the first time an appels court has dealt with one of the advertising provisions in the statutes. In this regard, the Tribunal found that the advertising provisions are essential requirements of the law and are strictly enforced in favour of the promoter/developer. The court also upheld the first instance`s finding that the city and the Laertes School District had not informed in time of their intention to require the solar developer to enter into a pilot agreement.
The city informed Laertes more than 60 days after the developer wrote to the city to let it know that it wanted to develop the solar installation. The court found that local tax authorities are strictly bound by the 60-day time required by a developer to enter into a pilot agreement. As the court failed to meet the 60-day requirement, it decided that the school district could not require a Pilot laerte agreement. Since the project was qualified as a solar energy system under RPTL 487, the Tribunal confirmed that Laertes was entitled to a 15-year tax exemption. The Appeal Division of the New York Courts has confirmed that a local tax authority must notify a solar developer within 60 days of the date the developer first informs the authority of its plans to build a solar facility, that the Authority intends to require the developer to make a payment in lieu of taxes or the PILOTE agreement, or that the taxman gives the right to require a pilot contract from the developer. Matter of Laertes Solar, LLC v Assessor of the Town of Harford (2020 NY Slip Op 02302). In Laertes, Laertes Solar, LLC, a third-party solar developer, had reached an agreement with Cornell University that Laertes would build, own and operate a solar project in Cortland County on land controlled by Cornell University. The electricity from the project would be used by Cornell to meet the university`s energy needs and meet its renewable energy targets. Before Laertes was in charge of the construction of the project, the Dryden Central School District passed a resolution that excluded RPTL 487. The school district filed the resolution with the ministry, but failed to submit it to NYSERDA, as required by law. If your school district has not opted to oppose the Section 487 exemption, any renewable energy project in your district is exempt from property tax.