MOUNT PLEASANT, Wis. — Three agreements with Microsoft Corporation were approved by the Mount Pleasant Village Board on Thursday.
The board had previously voted on the agreements during a closed session on Monday. Thursday, it voted in a public session.
The Mount Pleasant Village Board said the approved initial agreements include:
“The Purchase & Sale Agreement allows Microsoft to purchase and the Village to sell approximately 315 acres of land within the Tax Increment District No. 5 for $50,085,000;
“The Development Agreement notes that Microsoft will develop a $1 billion, 315-acre data center campus. Pending approvals, site readiness work could start later this year;
“The Implementation Agreement between the Village of Mount Pleasant, Racine County and Foxconn to enable the Microsoft project in TID 5.
The Racine County Board still has to approve the agreements. It will vote on the sale of the land in April.
The land in question currently belongs to Foxconn.
According to the agreement between the Village of Mount Pleasant, Racine County and Foxconn, this purchase will not lessen any of Foxconn’s obligations under its development agreement. This all comes after Foxconn has significantly cut back on its initial promises of bringing jobs and money to the state — promises it has not lived up to yet. If the deal goes through, Foxconn will get the money for the sale of the land, which is already primed and ready for use.
“For the Village of Mount Pleasant and our entire Racine County community, the potential benefits of Microsoft’s planned investment cannot be overstated. This project is an ideal fit for TID 5, and could attract additional high-quality growth for our area,” said Village of Mount Pleasant President David DeGroot. “The Village of Mount Pleasant looks forward to continued discussions with Microsoft regarding this incredible opportunity. We will continue to collaborate with Racine County as the Racine County Board considers the relevant agreements.”
The Mount Pleasant Village Board released the following information on the potential project:
Megan Marshall contributed to this report.