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See this news release by Mount Pleasant: "...The local development agreement stipulates that, if, for any reason, Foxconn’s investment on the campus falls shor
by djoldman 8y ago
See this news release by Mount Pleasant:
"...The local development agreement stipulates that, if, for any reason, Foxconn’s investment on the campus falls short, the company remains obligated to support a minimum valuation for the project of $1.4 billion, which will more than pay for all public improvements and development costs for the project."
https://www.mtpleasantwi.gov/CivicAlerts.aspx?AID=219 https://www.mtpleasantwi.gov/CivicAlerts.aspx?AID=219
- eps 8y agoIs there a timeframe on this obligation? And if the project is cancelled, it'd be logical that Foxconn will be limited to costs incurred to date. It's not like 1.4B is an open unconditional check.