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2 <br /> These projects will take advantage of the last year of the federal Inflation Reduction Act <br /> Direct Pay provisions which allows local governments to receive a reimbursement of 30% <br /> for solar energy projects, significantly improving the financial viability of the above solar <br /> installations. However, in order to provide the County with a four-year installation window, <br /> 5% of the construction costs must be paid by July 3, 2026. If the County does not meet this <br /> deadline, the County will only have an 18-month window in which to install and make solar <br /> projects fully operational by December 31 , 2027 in order to be eligible for the direct pay <br /> incentive. <br /> FINANCIAL IMPACT: Budget Amendment #8-B recognizes Alternative Financing for the <br /> Solar projects. Each project will be eligible for 30% Direct Pay Solar Incentives. <br /> Budget Amendment #8-B increases authorization in the County Capital Fund by $563,899, <br /> the Solid Waste Replacement and Renewal Fund by $140,333 and the Sportsplex Fund by <br /> $640,789, and amends and creates the following project ordinances: <br /> Solar Photovoltaic Systems ($563,899) - Project# 10090 <br /> Revenues for this project: <br /> Current FY 2025-26 FY 2025-26 <br /> FY 2025-26 Amendment Revised <br /> Alternative Financing $779,559 $394,729 $1,174,288 <br /> Grants $196,051 $0 $196,051 <br /> Contribution from Hillsborough j $24,750 j $0 j $24,750 <br /> Incentives $0 $169,170 $169,170 <br /> Total Project Funding $1,000,360 $563,899 $1,564,259 <br /> Appropriated for this project: <br /> Current FY 2025-26 FY 2025-26 <br /> FY 2025-26 Amendment Revised <br /> Project Expenditures $1,000,360 $563,899 $1,564,259 <br /> Total Costs $1,000,360 $563,899 $1,564,259 <br /> Solid Waste - Solar Photovoltaic Systems ($140,333) - Project#35006 <br /> Revenues for this project: <br /> Current FY 2025-26 FY 2025-26 <br /> FY 2025-26 Amendment Revised <br /> Alternative Financing $0 $98,233 $98,233 <br /> Incentives $0 $42,100 $42,100 <br /> Total Project Funding $0 $140,333 $140,333 <br />