Grundy County and several other local taxing districts have the state of Iowa to thank for a likely influx of money that should be headed their way.
The money – expected to be around $140,000 a year for 20 years – will be paid by Clean Line Energy for two decades after the electric transmission line proposed by the company is commissioned for service. The funds, according to the agreement the Grundy County Board approved Tuesday, will be remitted to the county and then distributed to impacted taxing bodies based upon property index numbers.
Doug Jones, the regional outreach manager for Clean Line Energy, explained to the board that the funds the company is offering to pay are based on a fee of $7,000 per linear mile of transmission line. It is anticipated there will be about 20 miles of line in Grundy County.
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