(La Porte, IN) - A revenue sharing agreement between La Porte City and La Porte County governments had been made official.
The city’s Redevelopment Commission approved the agreement last night after the La Porte County Redevelopment Commission recently voted in favor of it.
The money would come from property taxes paid by Microsoft on about 1,300 acres of farmland where the technology giant wants to put up a second data center beside the one that recently began construction. Bert Cook, Executive Director of the La Porte Economic Advancement Partnership, spoke to the RDC prior to the vote. “I think this would be a tremendous new partnership and allow for new resources for the county,” he said.
The second data center hinges on the city council voting to annex the property at the request of the landowners. The council is expected to make a decision during its meeting on May 18. No estimates have been given on how much in property tax revenue from Microsoft would be received by each of the government entities.
A previous 20-year revenue sharing agreement between the city and school corporation on the data center now in the early stages of construction will mean tens of millions of dollars a year for the city and several million dollars annually for the school corporation.
