Google looking to build up to $1.2 billion in new facilities
From The Wasco County Board of Commissioners:
The City of the Dalles and Wasco County have been approached by Google in regards to a proposed Strategic Investment Program (SIP) agreement for the development of property they have privately purchased primarily consisting of the former aluminum plant site and the rodeo grounds.
Google by night in the Port of The Dalles
The Strategic Investment Program is a State program overseen by Business Oregon. It provides up to 15 years of partial tax abatement for a project and is similar to an Enterprise Zone but is distinct in several key ways.
Included in the packet for the upcoming City and County Joint meeting is a term sheet outlining the provisions of the draft agreement including both statutory and locally negotiated components. Key points are:
A 20-year window for two potential projects estimated at $600 million each, each with up to a 15 year of partial tax abatement
State Prescribed Taxes tied to the total investment each project
State Prescribed Community Service Fee (CSF) based on 25% of full tax, capped at 2.5
million
A locally negotiated Guaranteed Annual Payment (GAP)
Transfer of property from Google to the City and County
Right of First Refusal giving the City and County the option to purchase the property
from Google for up to 10 years after the completion of the final abatement.
In addition to this term sheet, the staff has put together a presentation that will be reviewed at the City of The Dalles Council and Wasco County Commission Joint Public Hearings scheduled for Feb. 17 at 2:30 p.m. and the Feb. 22. at 5:30 p.m.
These first two meetings are intended to present the draft documents, answer questions, and take testimony. A decision on this agreement will be sought at the March 3 Wasco County Commission meeting and the March 8 City of The Dalles Council meeting.
CCCNews will continue reporting this story as additional information becomes available on Thursday, Feb. 11.
