Solar project incentive deal to cost SA taxpayers $12 million

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Published: 1/08 8:00 am

Updated: 1/08 8:08 am

SAN ANTONIO -- San Antonio is apparently the land of opportunity.

The San Antonio City Council has approved a plan to sell 86 acres at Brooks City Base for $5 million. The property has been appraised at $17 million.

The Brooks Development Authority must now decide if they like the deal.

The deal is a major incentive for Nexalon, a solar panel company planning on bringing 400 new jobs to the city. If it gets final approval, our tax money will be spent to cover the remaining $12 million.

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Texann - 1/9/2013 8:32 AM

2 Votes

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Anybody have an adding machine with enough zeros to total this up: Solar panel boondoggle, streetcar fiasco, Pre-K sham. Have I forgotten any? Thank you, Mayor Castro. You're now qualified for a Democratic presidential bid.

Ridonkulous - 1/8/2013 11:22 PM

3 Votes

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Why cant Castro have the solar company provide 12 million in grid power over a fixed term back to the city for street lighting(or to power his pre-K centers).

Mike K - 1/8/2013 5:26 PM

4 Votes

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Oh yeah, with typical spending patterns, that works out to it taking about 100 years to recover the cost of this corporate give-away, if the average worker wage in $40,000 per year. Of course we all know the average life-span of solar companies in the US is about 100 seconds not 100 years, but hey...the land is theirs to keep!

Gecko - 1/8/2013 4:48 PM

5 Votes

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Corrupt Castro politics....following in the footsteps of his idol Obama. He wasted close to a BILLION dollars in tax money on failed green energy companies but got re-elected.....stupid people.

Mike K - 1/8/2013 4:37 PM

5 Votes

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To balance the $12,000,000 the city is giving away to Nexalon, it would require $640,000,000 in taxable sales or $1.6 million in taxable sales per new employee. Another "brilliant" plan by our activist city council. Excellent fiduciary responsibility guys and gals! #sarcasm

Canaandogsrule - 1/8/2013 3:53 PM

4 Votes

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Selling the property at 1/3 the value and asking if the buyer likes it??? And good question: who is going to benefit from the solar company's services? What are the 400 jobs? Minimum wage sweepers or high level management? Too many questions for the taxpayers to stomach the hit. But we keep voting them back into office....

wsandman - 1/8/2013 2:30 PM

4 Votes

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This deal stinks. The business community is littered with the remains of failed Solar Companies. Very high risk deal.

catwalk0826 - 1/8/2013 1:28 PM

9 Votes

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TAX AND SPEND....TAX AND SPEND....GOOD LITTLE DEMO MAYOR.

catwalk0826 - 1/8/2013 1:27 PM

5 Votes

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And when this one goes belly up like all the others....we will be at a loss of funds and our property tax will increase. FOLLOW THE MONEY!!!