It's official, the assets of the Tangarie Wind Energy Plant in Vernon will be auctioned off to the highest bidder next month.
The board of Vernon Business Development Corporation today approved hiring a Dallas auctioneering company to sell off the remaining assets of the company which closed its doors in February.
BDC President Sean Stockard says that auction will probably be set for the first week in September.
Stockard says all assets will be sold, with the possible exception of one turbine owned by the City of Chicago which was sent back to Tangarie for repairs.
He said they have contacted Chicago officials and told them it can be shipped back as is, if not it will also be auctioned off as well.
He said they could not get any information from the owners on whether it was ever repaired, in fact Stockard says they haven't been able to find or contact the owners since last February or March.
Tangerie Alternative Energy received close to a million dollars in incentives and a loan, plus more from the state, to start up in Vernon.
Stockard says they will probably only recoup a small portion of the city's investments.
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.