Dist. 300 a step closer to wind farm

Three suburban school districts are poised to join forces to tap into wind energy downstate.

Community Unit District 300, Prospect Heights District 23 and Keeneyville Elementary District 20 expect to ink an agreement next month that would formalize their partnership.

For the school districts, which have been exploring building a 19.5-megawatt wind farm in Stark County for more than a year, the agreement is more than just a formality.

Under new legislation signed last month by Gov. Pat Quinn, the partnership would be able to build a wind farm, issue bonds to pay for the project and operate the farm - in hopes of offsetting its members' electricity bills.

Forming the "School Wind Consortium Agency," as the partnership will be known, is the first step in taking advantage of the new law.

The District 300 school board, representing the largest school district and biggest energy user of the three by far, reviewed the agreement Monday night.

The agreement would formalize a funding and revenue split of 80-10-10 to District 300, District 20 and District 23, respectively. It would also require the unanimous approval of the three districts to issue bonds and dissolve the partnership.

Approving the agreement would set into motion the second phase of the project, which includes navigating zoning issues, finalizing the business model, buying the turbines and, most crucially, establishing the economic feasibility of the project.

The funding model the districts have settled on would rely on a combination of private investment, federal stimulus grants and tax credits.

If that model is feasible, the school districts are on the hook for an estimated $2 million in development costs and $150,000 in legal fees; if not, the districts will only have to pay the legal costs, according to District 300 officials.

The District 300 board is likely vote on the agreement on Aug. 9.