Winona County turbines net investor
By Sarah Elmquist, Winona Post, 01/03/2010
An unprecedented public and private partnership for a proposed $3.6 million wind turbine project in Winona County may have netted an investor, and all signs point to construction beginning in the spring at the Mount Vernon Township site.
If things go as planned with the project, Winona County will become one of the first municipalities in Minnesota to combine tax dollars with private investments through a public and private Limited Liability Corporation to develop wind energy.
Winona County received special legislative approval last year to form an LLC to partner with investors. The ownership model for the agreement is expected to follow what has been coined the “Minnesota Flip,” with the private investors owning 99 percent of the developments and profits for the first ten years, with the county to own 90 percent after. Projections show that the county could make a profit of about $1.5 million over the next 20 years with the project.
Read the complete story in Winona Post
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