CEDAR RAPIDS, Iowa — The Cedar Rapids City Council has approved changes to the data center agreement with QTS to build data centers at the Big Cedar Industrial Park.
One major change was to cap the project at seven phases. Previous language in the agreement specified only “two or more” phases. Each phase will have a minimum 300,000 square feet data center building. Each phase represents a $250 million investment.
The agreement also now includes “related property owners” joining the agreement with the city and QTS. Scott Mather, economic development coordinator for the City of Cedar Rapids said that change was needed because, under the QTS corporate structure, each building will have different owners.
One of the stipulations in the agreement is that QTS and the related property owners will contribute $300,000 per project phase to a community betterment fund. That money is to be used to increase economic development activities, including amenities and infrastructure…