At their September meeting, the Habersham County Development Authority approved an amended property sale agreement to Precision Digital, a Gainesville-based technology company with ties to crypto-mining. The property is located inside the city limits of Baldwin in the industrial park.
The amended sale contract is for Precision Digital to purchase 3.83 acres at a cost of $45,000 per acre for the purchase price of $172,350 for the property.
The original contract, approved in June, was for the sale of 7.5 acres in the industrial park at a cost to Precision Digital of $337,500.
According to the amended contract, the development authority will have the responsibility of grading the 3.83 acres within 90 days of closing and may include the installation of a retention pond, should it be required, that meets the city of Baldwin’s standards. Once the grading has been completed, Precision Digital may begin construction of their facility as soon as possible.
The original contract was for the development authority to grade 7.5 acres with the Development Authority being responsible for grading the property and installing a retention pond, if needed.
According to Development Authority Executive Director Charlie Fiveash, Precision Digital will construct a 5,000 square foot facility on the site to house their equipment and will have a capital investment that exceeds $1 million.
However, it is only anticipated to create “maybe two to three jobs” for the local economy. Fiveash stated, “No incentives were offered to Precision Digital when they purchased the property,” he added.
Baldwin’s Acting Mayor Alice Ventor stated that she was unsure of the capital investment that Precision Digital would make with their building and equipment and that it may create five jobs. However, she anticipates that the city will receive approximately $100,000 annually in franchise fees through the business’ utility usage.
When asked what the anticipated cost of the grading and retention pond would be for the project, Fiveash stated, “The county is handling the bids. I am not sure what the amounts will be until the county receives the bids on both projects.”
