It appears that a data center will not be built in Clark County after all, as the buyer failed to make the first deposit of earnest money within a timeframe under an agreement between buyer and seller.
Project Pulse, as the data center project was being called, has lost its heartbeat.
In an email sent to local media outlets midday Thursday, Shelley Short, CEO of the Arkadelphia Regional Economic Development Alliance, wrote, “Under the terms of the agreement, the purchaser was required to deposit $200,000 in earnest money within a defined timeframe. The agreement further provides that failure to make that deposit constitutes an election by the purchaser to terminate the contract. The purchaser did not deposit the required amount within the timeframe outlined in the agreement. As a result, the agreement has terminated pursuant to its terms.”
The Economic Development Corp. of Clark County is scheduled to hold a special-called meeting Friday morning.
The meeting, Short said, “is being held to ensure transparency with the public and to provide a clear, factual update on the status of the project. At the May 1 meeting, the EDCCC will acknowledge the termination of the agreement and authorize written notification to the purchaser.”
The Arkadelphian‘s original Thursday morning post is as follows:
Project Pulse topic of special EDCCC meeting Friday morning
The Economic Development Corp. of Clark County is scheduled to hold a special-called meeting Friday, May 1, at 10 a.m.
The meeting, called on behalf of EDCCC board chair Lori Ross, will be held at the Dawson Education Service Cooperative, 711 Clinton St., in the Building 4 conference center.
The agenda is as follows:
• Call to order
• Project Pulse update
• Adjournment
EDCCC meetings are open to the public.
Discover more from
Subscribe to get the latest posts sent to your email.
