The proposal would mark a 1st-of-its-kind transaction for the Prepare dinner County Land Bank Authority, which normally sells homes to potential buyers who create vacant buildings or land, in accordance to The Chicago Sun-Occasions.
The property is part of the now-dormant Acme coke operation. The land lender wishes to lease the land to California-centered photo voltaic company Sunlight Power for as numerous as 35 several years. A lease-alternative settlement is in the functions. The corporation will have two decades to determine out if it desires to concur to a extensive-phrase lease.
The web page has been deemed poisonous by condition and federal officers. Before this calendar year, a neighborhood team sought to have the U.S. Environmental Protection Company clean up the web site so it can be formulated into a park or other usable area. There are two city parks close by.
Considering the fact that the land has been deserted for many years, there have been thousands and thousands of pounds in again assets taxes owed, in accordance to Prepare dinner County records.
The land lender has sought bids from providers who will seem at environmental cleanup.
“Presented the heritage of the web-site, it is significant that we plainly realize the troubles,” the land bank informed the newspaper.
SunPower has earlier been associated in place developments. In 2010, it designed a 41-acre solar power plant with Exelon on Chicago’s South Side.
“These jobs call for comprehensive owing diligence, and we have not but formally entered into the phase exactly where we can decide if this web-site will be feasible for solar,” Nathan Griset, a SunPower senior director, said in a statement.
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