The Rome-Floyd Development Authority signed a term sheet Wednesday to sell the Battey Business Complex in a deal worth $5.7 million for the remaining 100 acres of the North Division Street site.
The potential buyer is Atlas Development, which developed the Coosa and Dixon data center projects, also called Project Jazzy, outside Shannon.
The Battey complex is located at the site of the former Northwest Georgia Regional Hospital property.
“It is a continuing commitment to bring high-tech jobs to Rome with the least impact,” Development Authority Chair Jimmy Byars said. “The data centers are a good, clean and quiet industry that brings in great tax revenue. This continues our striving, with Microsoft, to bring high-tech jobs to our community.”
The complex has multiple buildings on it, which are currently having asbestos removed. Then most of the buildings will be demolished.
The authority received more than $7 million in grants for asbestos removal and demolition from the U.S. Environmental Protection Agency and U.S. Department of Housing and Urban Development.
The term sheet recognizes that asbestos removal and demolition must occur. It also calls for a $150,000 payment from Atlas, plus a formal deal with Georgia Power, which could require significant collateral and fees depending on the amount of power required.
The authority would keep the $150,000 if Atlas breaches the contract or otherwise doesn’t close after the expiration of the due diligence period.
The property is currently zoned Heavy Industrial, so Atlas will not need additional approvals from the Rome-Floyd County Planning Department.
The term sheet states that the authority can request updates from Atlas regarding its progress on the project. The deed is also restricted to the development of data centers.