MOUNT PLEASANT, WIS. – Tonight, at a special joint meeting, the Racine County Board, Mount Pleasant Village Board and Caledonia Village Board considered a Memorandum of Understanding (MOU) regarding funding of capital costs associated with providing water service to Village of Mount Pleasant TID #5, which includes the Foxconn project area. Water service will be provided by the City of Racine. The Racine County Board and Village of Caledonia Board voted to approve the MOU tonight. The Village of Mount Pleasant Board will vote on the MOU tomorrow.
“We’ve reached an agreement that minimizes the financial impact on the Village of Caledonia and Village of Mount Pleasant taxpayers,” said Racine County Executive Jonathan Delagrave. “This agreement is a testament to the importance and value of intergovernmental cooperation.”
The Villages of Caledonia and Mount Pleasant are served by the Racine Water Utility, the Village of Caledonia as a wholesale customer and the Village of Mount Pleasant as a retail customer. Wholesale and retail customers are responsible for varied levels and methods for covering the costs of infrastructure improvements within the system. Notwithstanding any of the current agreements, the MOU provides that all costs for water and sewer improvements will be funded through the Mount Pleasant TID #5.
Additionally, the MOU notes that the Village of Caledonia will pre-pay a lump sum of $4 million to the Village of Mount Pleasant for the use of sanitary sewer infrastructure owned by Mount Pleasant and transfer one million gallons of sewer capacity per day to the Village of Mount Pleasant. In return, the Village of Caledonia will have future rights to utilizing the new and upgraded sewer infrastructure.
“This is a win-win situation,” said Jim Dobbs, Village of Caledonia President. “We are able to help address the Village of Mount Pleasant’s immediate funding need through an upfront payment of money already owed to the Village, and reassign unused sewer capacity and in return, we ensure our residents and our community are poised for continued growth by having access to new and improved infrastructure.”
ABOUT THE PROJECT
Foxconn is investing an estimated $10 billion in Mount Pleasant, in the heart of Racine County, Wisconsin to create North America’s first liquid crystal display (LCD) manufacturing facility. The Foxconn manufacturing campus will be approximately 20 million sq. ft. — by far the largest project in the state and one of the largest manufacturing campuses in the world. The investment represents the return of electronics manufacturing to the U.S. from Asia. Foxconn’s investment will change the economic landscape in Racine County and Wisconsin and establish the state as the electronics manufacturing capital of North America. To learn more about the Racine County Foxconn project, visit http://www.FoxconnRacineCounty.com.
ABOUT RACINE COUNTY
Racine County is located on the shores of Lake Michigan, conveniently situated between Milwaukee and Chicago. The county boasts lakefront beaches and gently rolling hills, vibrant urban areas and peaceful rural retreats. World-renowned businesses like SC Johnson, Twin Disc, Runzheimer, and InSinkErator; first-class amenities like Reefpoint Marina, Racine Zoo, and Racine Art Museum; and nearly 200,000 diverse and welcoming residents all call Racine County home. From Burlington to the City of Racine, and the 15 communities in between, Racine County has something to offer everyone. Learn more at www.RacineCounty.com.
ABOUT THE VILLAGE OF CALEDONIA
The Village of Caledonia, Wisconsin is nestled along the bluffs of Lake Michigan in the northeast corner of Racine County. The Village is a unique urban area spread across 49 square miles. Historically, rural Caledonia hosts a nice blend of green open space, yet offers a growing local and regional economy that is forging a stronger community. The business-friendly community features shopping amenities, including DeBack Farms and Caledonia Business Parks, which provide easy access via I-94 to Chicago (73 miles to the South), Milwaukee (18 miles to the North), and serves as a catalyst to attracting new business to the revitalized Village. Learn more at caledoniawi.com.