A $100 million land sale agreement that opens the door for Microsoft Corp. to generate more than $3 billion of property value in Mount Pleasant gained approval from village officials on Monday.
That is a major step toward the village and Racine County selling 631 acres to Microsoft by the end of this year. Combined with 315 acres Microsoft (Nasdaq: MSFT) bought earlier this year from the village, and another 400 acres it will buy from a private landowner, the company will own two square miles of Mount Pleasant for its planned data center developments.
That is on land the village and Racine County spent a combined $330 million preparing for industrial development under its 2017 agreement with Foxconn Technology Group. After Foxconn’s project fell far short of job and property value projections, the Microsoft agreements this year represent a different payoff to the local governments for their spending to turn farmland lining Interstate 94 into a large-scale development site.
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