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Land deal to pave way for largest data center in Elk Grove Village

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Elk Grove Village has acquired the web-site of a concrete recycling business enterprise — the previous big parcel necessary for what will become the major facts center campus in town — as section of a complicated assets assemblage process led by the municipality.

The village’s $16.5 million order of the practically 5-acre Vulcan Design Materials web site at 1520 and 1700 Halfway Court docket follows its past acquisitions of places of work, a retail setting up and resort on the northwest corner of Higgins and Busse streets.

The village, in switch, is advertising again the land to San Francisco-centered Prime Details Centers Corp., which is organizing to develop a $1 billion, 150-megawatt knowledge middle campus across two dozen acres on the distinguished entryway of city.

Village officers have been pursuing the Vulcan website for at minimum a yr — even taking into consideration utilizing their eminent area powers to obtain it.

But the functions were in a position to access a sale rate in lieu of heading by the expenditure and delay of lawful proceedings, in accordance to the 16-web page income arrangement authorised by the village board this week.

Village officials explained buying the property would foster amplified financial action in the location and deliver up to $4 million a yr in home and utility taxes. It also would permit ComEd to increase another substation upcoming to the a person it opened in late 2021 at 1500 Halfway Court.

That substation is crucial for the completion of the Key Details Middle development, Mayor Craig Johnson stated.

Key is planning to build 3 3-story structures totaling far more than 750,000 square feet that would home servers, wires and related devices for it and third-celebration prospects that lease house there.

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It would be the 12th knowledge middle in Elk Grove and the major — about double the dimension of what Microsoft is constructing down the road at the Elk Grove Technological innovation Park, officials explained.

The village also is in the approach of generating a new tax-increment funding district in the Halfway Courtroom space aimed at encouraging fork out for environmental remediation at the Vulcan web page, which contains underground petroleum gas storage tanks and a well.

A 1st-examining village board vote on ordinances creating the TIF district was taken practically a year ago. A ultimate vote was delayed for the duration of negotiations for the Vulcan residence. Beneath the special financing system, house taxes paid out to neighborhood governments like faculties will be frozen at a set degree, and taxes gathered above that stage will go into a village fund to pay for the environmental cleanup and other charges.

Johnson reported the new TIF district would be short-lived.

Elk Grove initially ought to annex the Vulcan home. A closing on the land is set for Sept. 1, and Vulcan must vacate by the conclusion of the yr.

A groundbreaking on the initially section of the info heart project is scheduled for a 12 months from now.

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        



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