Project construction and operation remain subject to Doña Ana County land-use regulation and approval.

Construction requires applicable permits, industrial revenue bond approval, and related LEDA approvals; construction was expressly conditioned on obtaining those approvals.

Before construction begins, the project must complete environmental reviews required by state and local law, including reviews of water use, air quality, noise, stormwater, and overall environmental impacts.

The project must fund the design, permitting, and construction of any required public-water-main extensions connecting the site to existing infrastructure.

The project must fund the design, permitting, and construction of required wastewater force-main extensions and an onsite lift station to connect with regional infrastructure.

The project must fund the design and construction of a roadway extension from the Highway 136 and Highway 9 intersection to provide site access.

Operational water use for the full campus is limited to an average of 20,000 gallons per day and a maximum peak use of 60,000 gallons per day.

The onsite microgrid must comply with HB 93, including the requirement that qualified-microgrid power come from net-zero-carbon resources by 2045, and all systems must meet or exceed federal and state air-quality standards.

The project must make fixed annual payments in lieu of property taxes of $12 million for 30 years, beginning in the first year of data-center operations, instead of receiving a property-tax abatement without payments.

The project must make scheduled permit-related payments totaling $4.5 million from 2025 through 2028, in place of standard county building-permit fees.

The project commits to contribute $50 million through New Mexico's LEDA GRT Share program for water and wastewater infrastructure.

The project proposes additional community contributions totaling $6.9 million, including workforce development, community, desalination, regional connectivity, and habitat-restoration funds; these payments are contingent on execution of the MOU and approval of the related IRB documents.

Issuance of the industrial revenue bonds requires county ordinances adopted after public notice and a public hearing; the notice must generally be published at least 14 days before final consideration.

Taxing entities and the county assessor must receive certified-mail notices at least 30 days before the meeting at which final action on the bond ordinances is taken.

The county's consideration of the bond ordinances requires public-meeting notice, including at least 72 hours' advance notice of the meeting and agenda availability under county procedures.

The bonds must be issued within five years of adoption of the inducement resolution, with Series 2025A expected within two years; otherwise the resolution's stated inducement intent does not apply.

The bonds are intended to be purchased only by a parent or affiliate of the project companies, preventing sale to unrelated investors and limiting the available financing structure.

[ { "provision": "Industrial revenue bonds of up to $165 billion": "The County agreed to support taxable industrial revenue bonds totaling up to $165 billion, issued in stages for construction and later equipment upgrades. The bonds are subject to the governing body’s approval and related bond documents." }, { "provision": "Thirty-year property-tax abatement": "The County agreed to abate 100% of qualifying real and personal property taxes for 30 years, offset by negotiated annual payments in lieu of taxes." }, { "provision": "Fixed annual PILOT payments": "Instead of ordinary property taxes, the project would make fixed annual PILOT payments of $12 million, for 30 payments totaling $360 million. Payments begin when the first data-center building operates and continue through the applicable bond and abatement term." }, { "provision": "Gross-receipts-tax exemptions through Type 9 certificates": "The County authorized the project companies and their agents to obtain and use Type 9 nontaxable transaction certificates for eligible capital equipment and tangible personal property. The certificates may be used only for project purchases and not after project completion; the companies must cover resulting taxes or penalties." }, { "provision": "LEDA GRT Share contribution of $50 million": "The project committed $50 million through New Mexico’s LEDA GRT Share program for water and wastewater infrastructure, subject to the program’s approval and requirements." }, { "provision": "Reduced and alternative permit fees": "The project receives an agreed permit-fee schedule totaling $4.5 million for 2025–2028 and is exempt from the County’s standard building permit fees, which are replaced by that alternative payment structure." }, { "provision": "County assistance with permitting and approvals": "The County agreed to facilitate interactions with permitting offices, utilities, and other agencies; assist with permitting procedures; coordinate with state and federal agencies for accelerated review; and support applications for state incentives and workforce assistance." }, { "provision": "Support for off-site easements and rights-of-way": "The County agreed to provide reasonable assistance in obtaining required off-site easements and rights-of-way, including use of public authorities or eminent domain where legally permissible." }, { "provision": "Project-funded water, sewer, and road infrastructure": "The project agreed to fund required public-water-main extensions, wastewater force-main extensions, and the roadway extension connecting the site to Highway 136 and Highway 9. The project may also fund or upsize related infrastructure for broader regional needs." }, { "provision": "Protection from disproportionate future taxes, fees, and utility rates": "The County agreed not to impose special assessments, taxes, fees, or utility rates that are disproportionate to those imposed on similarly situated developments." }, { "provision": "On-site microgrid and project-paid power": "The project may use an on-site microgrid with natural-gas generation and large-scale battery storage, with the project paying for the microgrid and its electricity. The systems must meet or exceed applicable federal and state air-quality standards and comply with the stated HB93 requirements." }, { "provision": "Supplemental community and workforce contributions": "The project proposed $6.9 million in additional payments for workforce education, community projects, desalination evaluation, regional connectivity, and habitat restoration. These payments are outside the IRB documents and are contingent on execution of the MOU and approval of the associated IRB ordinance and documents." } ]

Construction and operation are contingent on obtaining permits, industrial revenue bond approval, and related LEDA agreements; the MOU creates no enforceable project rights before definitive agreements are executed. pending approval of permits and industrial revenue bonds

The project must complete all environmental reviews required by state and local law, including analyses addressing water use, air quality, noise, stormwater, and overall environmental impacts, before construction begins. Environmental reviews are a required part of the permitting process

The project must fund the design, permitting, and construction of required public-water extensions and any force-main extensions needed to connect the site to existing infrastructure. fund the design, permitting and construction

The project must fund the design and construction of a roadway extension from the Highway 136 and Highway 9 intersection along the northern site boundary to provide site access. responsible for funding the design and construction of a roadway extension

The data center must use an onsite microgrid, including natural-gas generation and large-scale battery storage, and must comply with applicable federal and state air-quality standards; qualified microgrids must obtain all power from net-zero-carbon resources by 2045 under HB93. onsite microgrid

Operational potable-water use for the full campus is limited to an average of 20,000 gallons per day, with peak use capped at 60,000 gallons per day, and the project must use a closed-loop cooling system. maximum peak use capped at 60,000 gallons per day

The project is subject to a permit-fee payment structure totaling $4.5 million for 2025 through 2028: $500,000 in 2025, $1.5 million in 2026, $1.5 million in 2027, and $1 million in 2028. Total Payments to County

The project must make fixed annual PILOT payments of $12 million for 30 years, totaling $360 million, beginning in the first year of data-center operations. fixed annual Payment in Lieu of Tax

The project must contribute $50 million through the LEDA GRT Share program for water and wastewater improvements, with the Project Participation Agreement requiring the first $50 million of GRT proceeds to be dedicated to a separate water and wastewater fund before remaining distributions are paid to the companies. dedicate the first fifty million dollars

The companies must invest approximately $50 billion by October 23, 2035, create approximately 750 qualifying full-time jobs by December 31, 2031, and continue operating until October 23, 2035 or until $350 million in construction expenses subject to GRT has been spent. capital investments

Failure to reach $350 million in construction investment by October 23, 2035 triggers a penalty equal to 100% of the GRT Share Distribution received, unless the specified $400 million investment threshold is reached after December 31, 2027 and the related clawback is waived. penalty equal to 100% of the GRT Share Distribution

The companies must submit quarterly employment reports and annual economic-impact data; state contributions cannot be disbursed without current job reporting, and failure to submit the annual data sheet by April 15 subjects the companies to a 10% clawback of all funds received. Failure to complete EIA data sheet by April 15th

The project must satisfy an annual performance review by the County or EDD beginning June 30, 2026; if the agreement's requirements are not met, the County may terminate the assistance by ordinance. annual performance review

The County will support Industrial Revenue Bonds for the Project with an aggregate principal amount of up to $165 billion. The bonds may be issued in stages for initial construction and later equipment refreshes, with the County taking record title to the project property upon each issuance. IRBs with a maximum principal amount of $165 billion

The County will provide a 100% abatement of qualifying real and personal property taxes for 30 years, offset by fixed annual PILOT payments of $12 million. A full (100%) abatement of real and personal property taxes

The County will support obtaining New Mexico non-taxable transaction certificates to provide gross-receipts-tax exemptions for eligible project property. Gross Receipts Tax Deduction

The County and State will distribute 50% of specified County and State gross-receipts-tax increments generated by taxable project construction expenses through October 23, 2035. The Companies must provide required tax documentation, and the first $50 million of proceeds must be dedicated to a County water and wastewater fund before later distributions go to the Companies. distribute to the Companies 50% of the net receipts

The Project is exempt from the County's standard building permit fees and instead pays the agreed alternative schedule: $500,000 in 2025, $1.5 million in 2026, $1.5 million in 2027, and $1 million in 2028. exempt from standard building permit fees

The County will actively facilitate engagement with permitting offices, utilities, and public agencies; assist with permitting; support offsite easements and rights-of-way, including use of eminent domain where legally permissible; and collaborate with state and federal agencies on accelerated review. actively facilitate engagement

The Project may fund and construct extensions of public water mains and wastewater force mains needed to serve the site, with the parties considering upsizing facilities to address broader regional needs. fund the design, permitting and construction

The Project will fund a roadway extension from the Highway 136 and Highway 9 intersection along the site's northern boundary, providing site access. funding the design and construction of a roadway extension

The Project may operate using an onsite microgrid with natural-gas generation, battery storage, and potential renewable-energy integration. The Project pays for the microgrid and energy it uses, and the campus may not affect existing customers' power reliability or costs; systems must meet federal and state air-quality standards and comply with the stated HB93 requirements. power itself with an onsite microgrid

The County will not impose special assessments, taxes, fees, or utility rates on the Project that are disproportionate to those imposed on similarly situated developments. Non-Discriminatory Treatment

The County will support the Project's applications for state statutory incentives, including tax credits and workforce-training assistance. support Project team applications for state statutory incentives

If the Companies reach at least $400 million in total construction investment after December 31, 2027, the County and State will waive clawback penalties related to the gross-receipts-tax share distributions. waive any and all Clawback penalties

Project construction is conditioned on obtaining all required permits, industrial revenue bond approvals, and related LEDA agreements; construction is only expected to begin in Q4 2025 after those approvals. pending approval of permits, industrial revenue bonds (IRBs) and related LEDA agreements

The project must comply with applicable county land-use regulations unless the County and the Companies agree otherwise. subject to land use regulation and approval by the County

The Companies must submit all environmental analyses required by state and local law, and complete required reviews covering matters such as water use, air quality, noise, stormwater, and overall environmental impacts before construction begins. Environmental reviews are a required part of the permitting process

The onsite microgrid must meet or exceed federal and New Mexico air-quality permitting standards, and qualified microgrid power must come from net-zero-carbon resources by 2045 under HB93. by 2045, all power from qualified microgrids must come from net zero carbon resources

The full campus's operational potable-water use is limited to an average of 20,000 gallons per day, with a maximum peak use of 60,000 gallons per day. average of 20,000 gallons per day with a maximum peak use capped at 60,000 gallons per day

The Companies must fund the design, permitting, and construction of required public-water-main extensions, wastewater force-main extensions, and the roadway extension connecting the site to Highway 136. fund the design, permitting and construction

Construction and operation through the IRB structure require County approval of one or more bond ordinances, execution of leases and related bond documents, and public notice before the County may issue the bonds. subject to the approval and authorization by the Governing Body pursuant to the Bond Ordinance or Bond Ordinances

The IRB ordinance process requires publication of notice at least two weeks before final consideration, and notices to the County Assessor and taxing entities must be sent at least 30 calendar days before the meeting at which final action is taken. published at least two weeks prior and at least thirty calendar days prior

LEDA assistance requires a later County ordinance after normal County review, with notice of intent published at least two weeks before the public meeting; failure or refusal to adopt the ordinance voids benefits under the Act. subject to a review of the Project by the County in the normal course and at least two weeks prior

The project must create at least 750 onsite full-time-equivalent jobs and 50 part-time jobs within three years after operations begin, with average annual wages between $75,000 and $100,000; the jobs may not be remote. minimum of 750 new full-time equivalent jobs and 50 part-time jobs

The Companies must maintain a local-participation program, including a Doña Ana County First hiring strategy, a project job board, informational sessions, and a local vendor registry. Doña Ana County First hiring strategy

The project must make specified community and County payments, including $4.0 million for workforce development, $1.5 million for community initiatives, $250,000 for desalination evaluation, $150,000 for regional connectivity, $1.0 million for habitat restoration, and $4.5 million in County project or permit-fee payments. Supplemental Community Investment Funds are generally due by December 31, 2026, while habitat payments continue through December 31, 2036. the last payment occurring on December 31,2036

The County may issue up to $165 billion in taxable industrial revenue bonds for power generation, battery storage, microgrid facilities, four data centers, and data-center equipment. The bonds may finance project costs and reimburse temporary capital advances, subject to later bond ordinances and related documents. maximum aggregate face amount of the Bonds

The County is expected to acquire project property and lease it to the companies, with company lease payments covering bond debt service. The bonds are payable from project revenues and are not County debt or a charge against the County's taxing power. shall not constitute a debt or indebtedness of the County

The County agrees to a 100% abatement of qualifying real and personal property taxes for 30 years, offset by fixed annual PILOT payments. full (100%) abatement of real and personal property taxes

The project will make fixed annual PILOT payments of $12 million for 30 payments, totaling $360 million, subject to the allocation described in the MOU. Total Payments to County (30 Years = 30 Payments)

The County will support obtaining State-issued Type 9 Nontaxable Transaction Certificates for eligible capital equipment and tangible personal property. The companies may use the certificates only for project purchases and must indemnify the County for related taxes or penalties. apply to the Taxation and Revenue Department for Type 9 Nontaxable Transaction Certificates

The County and State plan to participate in the LEDA GRT Share program by returning 50% of qualifying State and local gross receipts and compensating taxes from construction expenditures, subject to LEDA approval and project agreements. return of 50% of the gross receipts and compensating taxes

The Project will contribute $50 million through the LEDA GRT Share program for drinking-water and wastewater infrastructure intended to support regional water security. contribute $50,000,000 through New Mexico's Local Economic Development Act

The Project will fund design, permitting, and construction of required public-water-main extensions from Highway 136 to the site. fund the design, permitting and construction

The Project will fund design, permitting, and construction of required wastewater force-main extensions and an onsite lift station, with possible upsizing for regional needs. offsite extension of force main

The Project will fund design and construction of a roadway extension from the Highway 136 and Highway 9 intersection along the northern site boundary, or another access route agreed by the parties. responsible for funding the design and construction of a roadway extension

The County will facilitate engagement with permitting offices, utilities, and other agencies; assist with permitting procedures; support offsite easements and rights-of-way, including legally permissible eminent-domain assistance; and seek accelerated State and federal reviews. support in securing any required offsite easements or rights-of-way

The Project receives an alternative permit-fee structure totaling $4.5 million for 2025 through 2028 and is exempt from standard County building-permit fees, subject to the agreed replacement payments. exempt from standard building permit fees

The County will not impose special assessments, taxes, fees, or utility rates on the Project that are disproportionate to those imposed on similarly situated developments. will not impose special assessments, taxes, fees, or utility rates

The Project may operate with an onsite microgrid using natural-gas generation, battery storage, and potential renewable-energy integration; the Project pays for the microgrid and its energy, and the agreement states it will not affect existing customers' power reliability or costs. power itself with an onsite microgrid

The County will support Project applications for State statutory incentives, tax credits, and workforce-training assistance. support Project team applications for state statutory incentives

Approves project-specific LEDA assistance through a reduced County building-permit fee schedule, with total County payments of $4,500,000.

Approves and authorizes execution of the project participation agreement to provide assistance to the companies.