Yeah.

It's a workshop.

No calling to order.

It's free, right?

Yeah.

Okay.

So I guess we'll begin or open the uh April 29th, 2026 CIP committee workshop.

Um there will be no action taken on any of these agenda items.

They're all for review and discussion.

So that also means minutes will be approved at the next meeting.

Uh so the first item on the workshop agenda is review of general government CIP requests uh administration for the solar farm.

Okay.

Well, thank you, Mr.

Chairman.

Uh Andre Garrin Town Administrator.

Um to talk about the um the uh project of the solar farm landfill.

Um just to bring everybody up to speed, we had engaged with the revisions uh revision to um uh utilize our former landfill for a solar array project.

And um and on the uh now capped landfill cover uh we'll go in uh solar array.

And um so um part of the arrangement that we have with the um with the um revision is that uh once the uh facility is constructed, which I do have an amendment for the um for the CIP, uh I believe that the uh amount shown is shown in um in 2030 31.

And um and there's been a a few iteration um uh update iterations that we received from revision based on the start date of this, and now the start date is scheduled to be next year in 2027, and then six years from there is when um when we have a revision within our agreement with the revision to purchase the property, purchase the uh solar rate if we so choose.

We can either purchase it at that point in time and the the value of which from what you have in your CIP at 2.6 um the that figure should be uh two million nine twenty five nineteen.

And um again that's two million nine twenty five nineteen in year twenty thirty-two thirty-three, because that would be the sixth year when we're eligible to purchase uh the co the town of hooks would be eligible to purchase that if they so choose me, how long how many years?

Six years on the sixth year, meaning that uh if they were to start next year, cost they're projecting two point nine, correct.

Yeah.

And then uh obviously at that point in time we'll look at the appreciation value and and then uh and then sit down and the the town of hooks will have the opportunity to say, all right, you know, what we projected to be 2.9 could be three million, could be 2.7 or six, you know, could be less.

So anyways, I just wanted to put those out there that the cost that we have um shown in the capital improvement program is uh if the ch uh town chooses to exercise that option, um you know it would become available in year six, which is would be the 2032-33 uh capital improvement year.

Uh any questions?

Yeah.

Uh do we have the option to purchase it at any year following the sixth year?

Like if we don't do it on the sixth, can we do it on the seventh?

I believe we do.

Uh I think the minimum uh is uh is six years, but I believe we do have that option.

I don't think it's a uh every six year type of uh thing.

And uh, but I can I can clear um get confirmed that for our next meeting.

But I believe that thereafter, I think we were in a position we could purchase it if uh if the chancel chose to go ahead.

Are we planning to put some money away for it?

No.

Well, actually uh is that's a good question for the good question.

That's a good question for the uh council if it was yeah, if we want to do that, meaning that uh we have the opportunity to purchase it up from the start.

Right.

Uh and it would have been a little bit higher price, obviously.

I think it was more with a three million, three and a half million dollar price.

And uh, but we opt to uh up to with the agreement that you know um they incur the cost of putting the array up there, but uh once they're um uh once their um uh upfront cost charges are taken in consideration with all the credits and the revenue derived, uh there is a uh annual revenue stream to the town of hooks it as well, um, which the first year is projected to be 26,000 um three forty-two um with the first year and and with the arrangement that we have with the school uh is that how we get half of that revenue, the school would get the other half of their revenue because both pro um both school uh buildings and and town buildings were used in order to meet the amount of the demand needed to make this project a go.

So I'll just add that at this point like last year we had considered bonding that project.

So we as a committee can decide differently when we get to that point.

But do the revenues go up after year six?

Um actually they they go up every year.

I mean it starts at a twenty-six and it goes to thirty, thirty-five, forty, and then we have the purchase year, and then it um with the purchase year and then and the sheet I'm looking at is the uh projections that they provided us with regard to the revenue uh but uh if we were to purchase it, then we will be uh eligible for all the revenue that we derive from what we generate and and uh and get from uh EverSource for you know for the uh power generation as well as uh any of the um energy credits if they're still available at the time um to the town.

So the revenue if we were to purchase it, um it goes from like 46 in year 46,193 in year uh five, and then if we purchase it, then that shoots up to 282,000, you know, thousand dollars.

Offset the bond costs.

Correct.

Versus we can save for now that's fine.

But the revenues do increase significantly once we make that particular.

Because now yeah, we don't pay the developer exactly.

One more question.

Does the developer pay for repairs in the intervening six years until they purchase it?

Yeah.

And the agreement that we have is that you know, obviously, if there's anything that happens that you know that maybe the town uh uh hooks it was that fault or we're mowing along there and we we we uh hit an array or whatever, then obviously that's covered.

But any um basically any other wear and tear and all that good stuff that is on for uh that is their responsibility.

So and we're we've already entered into this PPA.