Weld County will receive a $100,000 settlement in the Abound Solar bankruptcy for the $1.8 million in property taxes it was owed.
The Weld Board of County Commissioners approved the settlement at a meeting Wednesday.
Abound Solar, a startup solar-panel maker with operations in Loveland and Longmont, filed for Chapter 7 liquidation bankruptcy in July 2012.
The , in large part the result of inexpensive Chinese imports, undercut Abound’s process, company officials said.
In February 2012, the company fired 180 full-time workers and 100 part-time employees. When Abound closed five months .
Abound had raised $300 million in private capital and in 2010 received a $400 million federal loan guarantee.
The company had used about $70 million of the loan guarantee by the time it closed.
At the time federal officials estimated that the amount taxpayers would have to pick up would be $40 million to $60 million depending on the disposition of the bankruptcy assets.
