Brick Council Approve Solar Farm Deal
The wheels are in motion to turn a former Federal Superfund site in Brick Township into a solar cost savings machine.
Brick Township Council Members approve and sign a Redeveloper's Agreement with Hoboken-based Standard Alternative L.L.C. calling for the capping of the former French's Landfill leading to the installation of a solar farm.
Mayor Steve Acropolis say the signed agreement "really puts us into a position where the redeveloper can, what they call, 'safe harbor' 5% of the cost of the project, which means that he will then be able to qualify for grants from the Federal Government."
The agreement calls for Brick Township to take out municipal bonds to pay for the installation of the solar panels and Standard Alternative L.L.C. to pay off the debt service.
Acropolis says the township will realize millions of dollars in energy cost savings over the 15 years of the project by purchasing electricity at a lower rate from Standard. He says after the 15 years, the solar farm will become the property of the Township's and will be used to fully power both the Township and the Brick Township Municipal Utilities Authority.
Acropolis says it could take a year for the redeveloper to cap the landfill and less than a year to put the solar panels in place.
However, the newly elected Democratic Council Members could decide to put the plan on hold because they reportedly have the final say.