JANESVILLE — The City of Janesville has extended the due-diligence period outlined in the Letter of Intent, or LOI, with Viridian Partners by 60 days.
No reason was given by the city for the extension.
At its meeting on November 10, 2025, the city council voted to enter an LOI with Viridian Partners to explore the potential development of a data center on the former GM/JATCO site.
According to a news release from the city, the original due diligence period was 120 days, or roughly March 10.
The new deadline will now be in May, past the April election when at least one new council member will be seated.
According to the city, the LOI is used to confirm serious interest between parties before moving into any binding agreements or detailed due diligence. As a precursor to any contractual obligations, the LOI allows both parties to collect information, align project goals, and establish a framework for negotiation. It is not a contract, but rather an opportunity to have discussions and share information that could lead to framing a contract.
Beyond the LOI, there are several steps that would need to be taken prior to the city entering into any binding agreement or conveying land.
A purchase and sale agreement, a contract defining the purchase price, property conditions, and other details, would need to come before the plan commission and city council for review and approval.
Additionally, a development agreement that outlines specific obligations required for the project to proceed would need to be approved by both the plan commission and city council.
For additional information on the potential data center development, visit janesvillewi.gov/insights.