County commissioners approve deal that would bring millions to Wellsville schools
COLUMBIANA COUNTY, OH —
The Wellsville School district is set to receive $24 million over the next 15 years.
Wednesday the Columbiana County Commissioners approved a deal that would bring the school district money.
That is if everything goes accordingly with South Field Energy.
The company and county commissioners agreed on a $1 billion natural gas powered electric plant in Yellow Creek Township.
“We have a pending compensation agreement that in lieu of an abatement, a 100 percent abatement of property taxes (on that site), the district will receive $1.5 million dollars per year for 15 years,” Wellsville Schools’ Superintendent Richard Bereschik said. “That will not start until one year after the completion of the project. "
The district could see that money as soon as the end of 2017.
If the total agreement is signed, the district would get $700,000 when the contract is inked.
And then $500,000 on the anniversary of the signing.
Then on the second anniversary another $500,000.
Administrators are now planning what to do with the cash.
The superintendent acknowledged Wellsville as one of the poorer districts and said nothing like this deal has ever come their way.
Some early plans for that money are thought to go to curriculum, technology and building upgrades.