By: Archana Kumar | Manager, External Communications, Invenergy
A once-in-a-generation financial opportunity for Cattaraugus County is being jeopardized by inaction from the Industrial Development Agency (IDA). The IDA has yet to vote on the PILOT agreement for the Alle-Catt Wind project, which could result in millions of dollars left on the table for Cattaraugus County communities.
After eight years of development and collaboration with host towns and counties, Alle-Catt Wind will begin construction early next year. The project stands ready to deliver substantial economic benefits to the local community. However, these benefits hinge on securing a PILOT agreement.
Alle-Catt’s proposed agreement would generate $9.1 million annually for host communities over twenty years, providing crucial funding for infrastructure, education, and healthcare. In today’s uncertain economy, this guaranteed long-term revenue stream is invaluable.
Allegany and Wyoming Counties have already completed PILOT agreements that will support their local economies. While Freedom and Farmersville have signed host community agreements worth millions over the life of the Alle-Catt project, these cannot proceed without the PILOT agreement in Cattaraugus County. The IDA must schedule a public hearing and vote promptly to unlock these benefits.
Without a PILOT agreement, Alle-Catt must use the state’s uniform tax assessment model, resulting in significantly less revenue for host towns.
This PILOT agreement represents more than a standard tax incentive for the project – it’s a 20-year partnership benefiting both the community and Alle-Catt. Â
