Four Property Owners In Foxconn Lawsuit Sell To Mount Pleasant

MOUNT PLEASANT, WI. – The Village of Mount Pleasant Board has approved purchase agreements with four property owners in the Foxconn Project Area that were previously plaintiffs in a federal lawsuit against the Village. Those property owners will be dismissed as plaintiffs from the lawsuit.

According to a Milwaukee Biz Times report, the deals will pay these four property owners 140 percent of fair market value.

The lawsuit alleges the village violated the owners’ right to equal protection, private property and due process. The plaintiffs argued they were only offered 140 percent of fair market value for their homes while the owners of vacant land received $50,000 per acre, according to the Biz Times report.

The deals will continue to pay the property owners 140 percent of fair market value, and now Mount Pleasant has reached deals with four of the seven property owners named in the suit.

To date, the Village has acquired 100 percent of the land in the core of Area I, where the first phase of Foxconn’s manufacturing campus is being built, as well as 82 percent of the land in Areas I, II and III.

Patch File Photo