CATLIN — Earthrise Energy announced that it has signed a Letter of Intent with Salt Fork Community Unit School District 512.
According to a release from Earthrise Energy, the Letter of Intent outlines a future tax abatement agreement that will provide earlier access to more than $3.5 million in expected property tax revenue within the first two years of the solar project’s operation.
Under the framework outlined in the Letter of Intent, Salt Fork and Earthrise Energy have agreed to pursue a future tax abatement agreement that includes a structured prepayment mechanism allowing a portion of anticipated property tax revenue to be paid earlier and in a more predictable manner once the project receives all required approvals and becomes fully operational.
“Earthrise Energy is proud to execute this agreement with the Salt Fork School District,” said Talya Tavor, Director of Community Engagement with Earthrise Energy. “We believe it is important that our projects deliver significant community value, and providing stability and certainty to local schools is a meaningful way to do that. We look forward to continuing our work to further strengthen all that Vermilion County has to offer.”
This framework does not increase taxes on Vermilion County residents and does not create new or additional revenue. Instead, it restructures the timing of existing, expected tax revenue associated with the project.
As reflected in the agreement, these payments are intended to support identified facility projects and strengthen the district’s fund balances, helping maintain safe learning environments and long-term financial stability. By establishing clear expectations and a defined payment structure, the framework provides accountability, predictability, and responsible planning for the district.
More information will be shared with families and community members as the agreement moves forward and as funding is applied to student-focused initiatives.