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Becky Cook's avatar

All I will say is this: the “concern” and “protection” of the watershed coalition is suspect in my opinion. I personally contacted them to intercede in a 2700 acre solar development on the SAME river on PRIME farmland and heard absolutely nothing back from this organization. The area the data center is planned for is the right side of the river and is poor farmland known as a sand ridge. The footprint for the data center is MUCH smaller, even with the last additional parcel, less than half of the solar system. Having attended multiple meetings over the last three years, I know how both projects have been addressed and handled. This article does not reflect what I know, experienced, and remember. There is more information about this story than you have provided for the reader to be able to make an informed assessment.

WH's avatar

Great piece, but I have a question about this section: "The Development Authority had acquired the land at roughly $12,559 per acre and flipped it same-day at approximately $1,479,235 per acre, a markup of roughly 118 times. The Authority netted approximately $75 million."

As I understand it, the sale price for the 600 acres was $153.8 million, translating to approximately $250,000 per acre, according to the Fayette County Development Authority. Every outlet I've seen reports the same: QTS acquired the assemblage for $153.8 million, or approximately $250,000 per acre. Your claim of ~$1,479,235 per acre would mean 615 acres sold for about $910 million, roughly six times the actual price. The "118x markup" is derived from that per-acre figure, and I'm just not getting the math. What am I missing?

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