As Monticello Tech’s proposed data center moves into detailed city review, the developer — not city taxpayers — will pick up the tab for outside costs associated with evaluating the project.
The City Council on Aug. 24 approved an escrow agreement with Monticello Tech for review of its proposed 550-acre technology campus south of 85th Street NE and east of Highway 25.
The agreement establishes a developer-funded account the city can draw from as its planners, engineers, environmental consultants and attorneys dig into the proposal. City policy requires such agreements for commercial and industrial land use applications involving more than 51 acres.
Monticello Tech must initially deposit $10,000 into the account.
If the balance drops below $5,000, the developer must replenish it as directed by the city — or the city can halt its review until more money is deposited.
City staff initially determined the developer’s July 6 land use applications were incomplete. Monticello Tech submitted a substantially revised package Aug. 3 and supplemental materials Aug. 11, and the city has since determined it has enough information to begin evaluating the proposal itself.
Monticello Tech is seeking three approvals during the current phase: rezoning for a Data Center Planned Unit Development, a conditional use permit and a preliminary plat.
The developer is proposing an approximately 3 million-square-foot technology campus that could ultimately include as many as eight data center buildings constructed in phases over several years.
