Performance agreement for natural gas power plant in Charles City approved by supervisors
Back in June 2015, Charles City supervisors allowed a company to explore land located on Roxbury Road (Route 106) for the possibility of bringing an electrical plant that utilizes natural gas. At Tuesday night’s regular board meeting, the possibility of the facility is now looking more like a reality.
County leaders unanimously approved entering into an incentive performance agreement with C4GT and the county’s Economic Development Authority for the construction of a 1,060-megawatt natural gas power plant.
Assistant county administrator Rachel Chieppa presented the document to supervisors, summarizing more than two years of work. Among agreed terms, the county will donate approximately 88 acres of land to C4GT. The power plant will take approximately three years, beginning in 2019 and concluding in 2021. During the construction phase, several hundred jobs will become available during the time frame, with 15-25 permanent jobs opening up once all work is completed.
Chieppa said that the company’s investment is expected to be in excess of $500 million. Upon completion of the facility, the county will receive revenue anywhere between $2-5 million per year. Of that anticipated revenues to the county, 25 percent will be reimbursed to the company during the first 10-year period, with the next ten years consisting of a 10 percent in reimburses.
Among other agreements reached between C4GT include the county providing reimbursement of all fees, fast-tracked permits, road signage as needed, and assistance to applications with Virginia’s Department of Transportation (VDOT) if a turn lane is necessary.
Chieppa added after the meeting that even though the $2-5 million in revenue may not be seen during the construction phase, money will be garnered through taxes from the company.
The prospective facility becomes one of the first major projects that falls in line with the county’s plan to make the Roxbury Industrial Park a prime business corridor for the county.