The City of Waukee has approved a development agreement and he sale of about 200 acres of land for the development of a data center for tech giant, Apple. While the city wouldn’t name the developer, and the applicant was Bravo Real Estate, LLC., the Iowa Economic Development held a meeting at 10:15 Thursday morning to discuss state tax incentives and a press conference will be held at 12:15 p.m. with Gov. Kim Reynolds, Waukee Mayor Bill Peard and Apple CEO Tim Cook to officially announce the plans.
The 200 acres of land is located at the corner of 300th Street and Richland Place, in the recently annexed area in western Waukee, south of Hickman Road and east of County Highway R16. The land was sold for $25,000 per acre, which, according to Community and Economic Development Director, Dan Dutcher, is higher than the land’s appraised value.
The city’s development agreement with Apple states that city will exempt up to 71.30556 percent of the value added by the defined buildings from property taxes for a period of up to 20 years, commencing with the date any defined building in the initial project is first assessed for taxation. Additionally, if the city were to adopt a franchise fee, the city would rebate up to 100 percent of the franchise fees paid by Apple to the city.
This is a developing story and the Dallas County News will have more details available this afternoon.