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Tuesday, May 3, 2016

Commission recommends approval of abatements

Thursday, September 20, 2007

The Clay County Redevelopment Commission made a positive recommendation on two tax abatements for the Headwaters Project Wednesday night.

Headwaters Energy Services, a coal-based synthetic fuel company out of Utah, is currently working to sift out coal particles at the old Chinook Mine.

The abatements, one for real estate and one for personal property, are at a total cost of $12,385,000 and will create a total of 21 jobs.

Headwaters began work at the site in April while paying an undisclosed group to determine whether to finance the project through Tax Increment Financing (TIF) or tax abatement, and are also covering the costs of road improvements on County Road 500 West for the movement of the collected coal particles.

The length of the project is approximated to be anywhere from 10-15 years.

The abatements will now go in front of the Clay County Council on Oct. 1 for potential approval, and they would also determine the amount of years on the abatements should they approve them.

The next meeting of the Clay County Redevelopment Commission will be Wednesday, Oct. 17, at 7 p.m. in the Commissioners' Court of the Clay County Courthouse.

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