Project Number: 20140201
Project Type: Standard/Basic
Parcel ID: D0107 00014
County Commission District: 1 | City Council District: N/A

Summary

Plains and Eastern Clean Line LLC received an 11-year PILOT in return for a $259 million investment in unincorporated Shelby County near Millington (in the Millington annexation reserve area), and the creation of 16 new jobs.

As part of a larger project, Plains and Eastern Clean Line will purchase renewable wind energy in the Panhandle of Oklahoma, construct an approximately 700 mile, 600 kilovolt high voltage direct current electric transmission line that terminates in either Shelby or Tipton Counties at a new converter station (direct current to alternating current), and then ties into the Tennessee Valley Authority network.

Once constructed, the facility will be able to deliver more than 3,500 megawatts of renewable energy.


PILOT Term:

11 years

Projected New Jobs:

16

Projected Retained Jobs:

Not applicable

Total Jobs:

16

Projected Average Payroll of New Jobs:

$56,875

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$2,428,608

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$259,848,000
Real Property Investment:
Not applicable

Personal Property Investment:
Not applicable

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$37,124,467

Projected Taxes Abated:

$23,369,368
City: Not applicable
County: $23,369,368

Benefit/Cost Ratio:

1.59

Projected MWBE/LOSB Spending:

$2,555,000

Incentive Provided:

$23,369,368

Compliance Information

Not applicable

Approved

2/19/2014

Ramp up Period

2 years

Closing

Not applicable

Effective

Not applicable

Lease Begins

Not applicable

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

Not applicable

Lease Expires

Not applicable

Clean Line

Miller Road, MIllington, TN 0