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Commission approves 12-month extension of Project Sam option agreement for West Madison County site
Summary
The county approved an extension to an option agreement for Project Sam, a multi-phase battery-materials manufacturing project, keeping the original purchase price and taking additional deposit money to protect the county if the developer withdraws.
Madison County commissioners voted on April 21 to approve a 12-month extension of an option agreement with a prospective battery materials manufacturer identified in the record as Project Sam.
County staff told the commission the extension leaves the original purchase price unchanged: $60,000 per acre for 48.47 acres (about $2.9 million) plus 11.71 acres in a floodplain at $10,000 per acre (about $117,000), for a total…
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