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Village Approves Redevelopment Plan for Foxconn Project Area

The Mount Pleasant Village Board voted on Monday night to approve the redevelopment plan for the Foxconn project area. This plan, previously recommended by the Mount Pleasant Community Development Authority (CDA), gives the CDA the authority to issue double tax-exempt bonds, saving the Village millions of dollars.

"The 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."

More information is available here.

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