Village Approves Redevelopment Plan For Foxconn Project Area

June 5, 2018

Takes action on other Foxconn-related projects 

 

Tonight, the Village of Mount Pleasant Board voted to approve a redevelopment plan for the Foxconn Project Area previously recommended by the Mount Pleasant Community Development Authority (CDA). This vote gives the CDA the authority to issue double tax-exempt bonds, saving the Village millions of dollars.

 

“Tonight’s approval of the redevelopment plan is one more sign of progress toward Foxconn’s $10 billion, 22 million square foot advanced manufacturing campus,” said David DeGroot, President of the Village of Mount Pleasant. “It paves the way for the Village to save millions of dollars by providing the CDA the authority to issue double tax exempt bonds.”

 

“The approved redevelopment plan will not change the Village’s approach to property acquisition,” said Alan Marcuvitz, an attorney for the Village of Mount Pleasant. “As it has done since the beginning of this process, the Village will continue its efforts to acquire all property needed for the Foxconn development through voluntary agreements with property owners.”

 

The Village’s approach has enabled it to acquire 100% of the land in the core section of Area 1, where the first phase of Foxconn’s manufacturing campus will be located, as well as 80% of land in the entire project area – Areas I, 2 and 3 – all through voluntary agreements with property owners. The Village Board reiterated its plans to continue to pursue all reasonable efforts to reach agreements with individual property owners.

 

Water Utility Agreement

The Village Board also voted to approve an amendment to the Retail Water Service Agreement with the Racine Water Utility and the City of Racine that governs supply of water to the Village of Mount Pleasant. The amendment will enable work to move forward for construction of two new water mains related to the Foxconn project along International Drive and Braun Road. Similar to an amendment approved in January for earlier water main construction, the amendment ensures that the capital costs for the project will be funded by the Foxconn investment through the Village of Mount Pleasant TID #5. The amendment was previously approved by the Racine Water Works Commission and will be considered by the City of Racine Common Council on June 19.

 

Demolition Contracts

The Village Board also voted to award the first two contracts for demolition work to Guelig Waste Removal And Demolition LLC and a team of four subcontractors. In keeping with the Village’s Wisconsin First commitment, the awarded team includes five Wisconsin-based companies, hailing from four different counties, as well as a women-owned enterprise. Demolition work will involve 23 parcels on Braun Road.

 

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