Property Devaluation Yorkville? / Utility Tax from Data Centers will be 10-50% Less than Reported :(

Описание: Potential Negative Impact to Surrounding Property Values

It seems to me the only medium to long term improvement in home, and land values, is if more land can be converted, and the landowners can cash out, and move on.

Homeowners did not buy next to industrial infrastructure, and rezoning after the fact removes their ability to protect their property value, and quality of life.

Zoning is supposed to provide predictability.

Changing land use, this dramatically, this close to existing homes, undermines that trust.

Is a home that backs up to a corn field worth less, when that corn field turns into a data center?

Are there any conditions in which adding the data center increases the neighboring homes’ values?

We ask that the City Council to REQUIRE data center developers to provide data driven, legally binding documentation, to prove that property values will not decline, including, and not limited to Third Party “Comparable Sales” Studies showing that in similar, high density data center areas (like Northern Virginia), property values have not decreased. In a case that the data center developers cannot provide said proof, we ask the City Council to Require the data center developers purchase properties within 2 miles of the proposed data centers.

Will you, as City Council members, agree to require these terms from the developers in legally binding documentation?

I ask the council before me, to please table any data center, or rezoning for data centers decisions, until we get clear answers to these questions.

We as citizens feel it would be irresponsible on the part of the Yorkville City Council, to not ask these questions before making a decision, without considering the residents' concerns, regarding property values.

Yorkville City Debt Repayment Plan

The city has publicly planned a 20% annual water rate increase for multiple consecutive years.

These increases are designed to pay construction costs, cover interest on debt, and build required reserve funds.

Residents are paying now, while full population growth hasn’t arrived, and these data centers have not gone online, and are not guaranteed to.

That creates a front loaded burden on existing households.

Our city is spending on infrastructure now, with the hope of future revenue later.

In the tech world this is known as “Just Trust Me Bro”.

If revenue estimates are overly optimistic, that can weaken the city’s ability to cover its debt, and pay for services without raising our taxes, or fees.

Some of these revenue projections have already been decreased publicly, and have not been guaranteed.

For example, earlier projections estimated up to $100 million in utility tax from data centers.

Bart Olson, our City Administrator, acknowledged later that the actual revenue could be as low as $10 million to $50 million, only 10% to 50% of the original estimate, or potentially less.

What is the City Council’s plan to pay back these loans, If the data centers do not materialize, and make a profit?

Will an Independent fiscal impact analyses be done, showing that tax revenue (even with incentives) will cover infrastructure costs, without raising taxes on residents?

Should this not be the financial burden of the data centers, and not the citizens?

Once again, I ask the council before me, to please table any data center, or rezoning for data centers decisions, until we get clear answers to these questions.

We as citizens feel it would be irresponsible on the part of the Yorkville City Council, to ask its citizens to take on this debt.