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Sky Data Center

Fixed tax-rate agreement

Chesterfield County, Virginia

Skyward Holdings LLC is considering a data center campus on about 885.743 acres in Chesterfield County. This agreement sets the tax treatment of its computer equipment if the company buys the land and proceeds.

The county promises an effective equipment-tax rate of $0.24 per $100 of assessed value, using grants to offset any future increase. The contract can run through three ten-year operating periods, subject to its completion or progress conditions.

Project company
Skyward Holdings LLC
Site
Approximately 885.743 acres
Agreement signed
June 30, 2025
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What’s included

Public revenue & benefits

Sets an effective computer-equipment tax rate of $0.24 per $100 of assessed value. If the county raises the rate, an annual grant offsets the increase. The initial term runs until ten years after the first operational building receives its occupancy certificate; two ten-year renewals depend on completed work or progress.

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Power & infrastructure

The customer may direct tax-offset grants to the county Utilities Department to pay project utility infrastructure costs. This is an option for using the grant, not a separate promise of free infrastructure.

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Reporting & enforcement

The agreement ends automatically if no property is acquired within 36 months, or the real-estate options end sooner. A default requires written notice and at least 15 days to cure; unresolved defaults can be enforced in court. County spending in later fiscal years requires appropriation.

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Other terms

Allows transfers to affiliated entities without county consent if the assignee assumes the obligations. Other transfers need county consent. The agreement becomes public when placed on the supervisors’ approval agenda, with legally protected information treated separately.

About this document

The county-published copy is dated June 30, 2025 and includes signatures for Skyward Holdings and the county on PDF page 6.

Document
Fixed tax-rate agreement
Published by
Chesterfield County
Parties
Skyward Holdings LLC and Chesterfield County, Virginia.
Reviewed
2026-09-07
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