QTS Cedar Rapids
Development agreement
Cedar Rapids, Iowa
Cedar Rapids negotiated a development agreement for QTS’s data center project in 2025. An assignment and later restatement changed the project’s document history; the city has posted the original contract and a memorandum of the restatement.
- Project party
- QTS Cedar Rapids I LLC
What’s included
Public revenue & benefits
The December 2025 approval keeps community payments at $300,000 per completed phase each year for 20 years, capped at $18 million overall. It authorizes 70% property-tax rebates, capped at $1 billion, and 75% electricity-franchise-fee rebates, subject to employment thresholds and annual appropriation.
Compare public revenue & benefits termsReporting & enforcement
The original agreement links payment obligations to incentives and excludes third-party beneficiaries. The full later restatement is needed to establish which provisions now apply.
Compare reporting & enforcement termsAbout this document
Original 2025 version; later restatement must be read.
- Document
- Development agreement
- Published by
- www.economicdevelopmentcr.com
- Parties
- QTS Cedar Rapids I LLC
- Reviewed
- 2026-09-07
- Still needed
- The full amended and restated contract is available for inspection at the City Clerk’s office under paragraph 3 of its memorandum; an online full counterpart was not located. Payment limits and approval are verified from the adopted resolution.