Platteville finalizes land sale tied to $20 million plant, but contract contains no job creation guarantees
City of Platteville leaders this week authorized the sale of almost 21 acres in the city’s industrial park to a developer that will construct and lease a facility whose tenant has pledged to employ at least 200 people.

The $20 million estimated cost of the planned 342,000-square-foot warehousing, light manufacturing and distribution facility is so high that the city will sell the property, valued at $1.4 million, for a maximally discounted rate of $1 per acre, based on a land-price formula that reduces costs for job creation and infrastructure investment...
   ...more

Ken Notes: The developer will not "create" the jobs so this make sense, but I hope the agreement does have a guaranteed property value which the developer is responsible for. This may be the case of the press not knowing what questions to ask...



- - Volume: 9 - WEEK: 13 Date: 3/25/2021 9:24:10 AM -