Board approves sale of Lee County land to Excelsior Energy Partners for $9.36M

Corey Needham, Lee County manager, asked the board to approve the sale of county-owned property on Buckeye Road near Arkansas Junction to Excelsior Energy Partners for $9,361,355. Needham said the county acquired the site in October 2010 for $2,314,000 and provided an appraisal valuing the land at $1,800 per acre, which the appraisal equated to about $3,460,000. "We are proposing to settle to Excelsior Energy for $5,000 an acre," Needham said, describing the negotiated price that equates to the $9.36 million sale figure presented to the board.

Needham told the board the buyer plans initial development to generate electricity, with the preferred commercial customer a data center that has not been named. He said the county has passed local resolutions to protect community interests by requiring closed-loop or air-cooled systems to limit water use and by ensuring power arrangements will not raise costs for existing residential, commercial or industrial users. Needham said the county will work with Xcel Energy or SPS for grid integration.

Staff noted the approval would include contingencies: the board's action was contingent on receipt of a fully executed sale agreement and a fully executed quick‑claim (or similar closing) instrument from the county and the buyer. Member Paul Cassidy moved the motion and the board approved the sale by roll call.

The board emphasized that the vote approved the sale of land only and did not approve any specific construction or project details; future permitting or local approvals were not part of this action.