AUGUSTA,Ga (WJBF) The decision not to move forward with a waste to energy plant at Augusta’s landfill is being called a blow to the city budget.
Tuesday Commissioners rejected a plan to apply for a 62 million dollar state environmental loan to have developers build a plant at the dump.
That plant would have turned city trash into diesel fuel, and fertilizers.
Developers said the city stood to make more than four million dollars a year off the products,
Supporters say the commission missed out on a big pay off with little risk to the taxpayers.
“It’s a 62 million dollar investment at a two percent note that’s guaranteed by an insurance company that puts Augusta Richmond county at zero risk but the good thing about it Over a twenty year period It’s a 152 million dollar net profit and I don’t think my colleagues understood that,” said Commissioner Wayne Guilfoyle.
Commissioners who opposed the idea felt the profits were not large enough for the city general fund since most would be going to the landfill’s budget.
The commission was facing a deadline of yesterday to apply for the loan.