FELCH TOWNSHIP, Mich. (WZMQ) – Circle Power Renewables presented a check to the Dickinson Area Community Foundation to fund scholarships and recreation projects in the area. The CEO says the property tax guarantee to local governments and schools is the first agreement of its kind in Michigan. The company says it believes the community should benefit from renewable energy projects, like the Groveland Mine Solar Project. It says giving back to the community is a fundamental core value of Circle Power Renewables.
“We actually estimate that once the project is constructed, with the cost after inflation and other things, it’s actually going to generate quite a bit more revenue. However, we have guaranteed at least $12.4 million dollars as a floor. And if the project ends up owing more, then it will pay that obligation,” said Elise Matz, Vice President of Public Affairs for Circle Power Renewables.
Part of the check presented tonight will help fund yearly endowment scholarships for students, and some of that funding will also go to the townships and habitat projects.
“So 100,000 of it is one-time grants, 75,000 will go to the township each, Felch, Norway, and Sagola will get $25,000. Area Sportsmen will actually form a committee to choose what happens with the other $25,000. It could be a project that improves habitat or recreation in the Groveland, pond or the Pine Creek basin area. And then there’s also a $50,000 endowment that will grant a scholarship every year for a graduate of Norway Vulcan and a graduate of North Dickinson schools, so altogether the total is $150,000,” Matz explained.
“So once the project is built, we estimate that it could bring in at least $12.4 million to local taxing entities. That includes Dickinson County, Felch, Norway, Sagola Townships, North Dickinson school, Norway-Vulcan area schools, and the Dickinson-Iron ISD.”
“We’re so excited to have gathered here tonight. It’s just really great to see so many friendly faces in the room after working so many of these folks for the past few years, it means a lot to us that they came,” Matz expressed.
The community gathered over and shared a meal, and remarks were given by Jordan Roberts, CEO of Circle Power, Tamara Juul, Executive Director of Dickinson Area Community Foundation, Don Bcyzek, Norway Township Supervisor, and representatives from the Upper Peninsula Construction Council and area sportsmen’s organizations.
Matz explained how the endowment fund is intended to continue giving to local high schools for generations to come.
“So this is really what community foundations do is they take chunks of money, and they invest it. And the earnings on that are used to fund grants and scholarships. And so, that’s what we chose to do rather than a one-time we thought it would be really neat if we could demonstrate our lasting commitment to this community by actually giving a fund that was going to give scholarships and perpetuity so we’re really excited about that,” Matz concluded.
For more information on Circle Power Renewables funding gift to the community, visit:
