Microsoft’s plans to potentially invest $1 billion in a data center campus in Mount Pleasant would help repay debt the village took on for the Foxconn project and would also reimburse Foxconn for a portion of a $60 million advance it provided to fund land acquisition.
Microsoft is planning to buy 315 acres from Mount Pleasant for nearly $50.1 million. The proceeds of that sale would go to Foxconn as reimbursement for the land acquisition advance after covering the villages costs in the sale to Microsoft.
When Foxconn initially selected Mount Pleasant for a planned Gen. 10.5 LCD screen fabrication facility in 2017, local officials set out to acquire almost 3,000 acres of land to support Foxconn’s development. The arraignment called for Foxconn to have the rights to develop or direct the use of the land, but it was initially acquired by the village.