The deal to bring SOLARCYCLE to Cedartown is one step closer to completion.

City Commissioners and the Cedartown Development Authority have both approved the request from SOLARCYCLE to sell bonds, and now the deal is one step closer to completion.

A closing on the Cedartown Development Authority property is set for sometime in July, and after that SOLARCYCLE will seek to sell bonds to help pay for the property and construction costs of a new recycling and glass manufacturing plant on the York property.

Cedartown City Commissioners earlier this month gave their unanimous approval to allow SOLARCYCLE via the Cedartown Development Authority to sell bonds on the market to raise money they need to complete the deal and build their new location within the city.

The Cedartown Development Authority then met last week to approve that same proposal after the vote from the City Commission.

Now that those two approvals have been met, SOLARCYCLE will then finish up negotiations for the land purchase. The bonds will be secured by the land once they go out on the market, along with the facility once completed and allow SOLARCYCLE to pay for the construction and land purchase over a long term.

SOLARCYCLE announced the deal this spring with the CDA to buy the property for more than $5 million to build the plant where they use a patented process to recycle old solar panels, and then reuse the glass out of the panels to make new glass in a manufacturing plant on the York property.

The company expects to employ around 600 people once the new plant is completed. If their funding plan goes as expected, SOLARCYCLE could begin construction as soon as late 2024 or early 2025.

Previously, the Cedartown Development Authority bought the 260+ acres of the former farmland that was the York property to extend the North Business Park past Industrial Boulevard northward.

The York Property already had some of the items completed that was needed thanks to Appalachian Regional Commission grants to help pay for the improvements to ensure the site was ready for development.