Meta Beaver Dam

Provides up to $10 million in reimbursement for developer-funded public works and two $50 million development incentives, issued when construction starts in each phase. Repayment comes only from available project tax increments and annual appropriations. Unpaid balances expire in 2041 for public works and phase one, and 2042 for phase two.

The developer pays up to $10 million for the agreed public improvements, including water work. The city must publicly bid the work; costs above that cap fall to the city. The developer also grants a corridor up to 30 feet wide for underground water and wastewater infrastructure.

The company may explore solar, geothermal cooling and wind power but is not required to use them. If it submits plans, the city must promptly confirm whether those uses are permitted.

Public-work deposits require contracts and a 20% contingency, followed by documented monthly invoices. Disputed costs go to arbitration. Contract defaults require notice and at least 15 days to cure before termination, damages or an order to perform.

The agreement does not require the company to build either phase. It preserves development flexibility while requiring any tax-exempt successor to replace lost property taxes, subject to exceptions for utility and conservation land.