Foxconn has signed a memorandum of understanding with Racine County and Mount Pleasant about the company’s new high tech plant and the land it will sit on. It’s a major step toward a development agreement that spells out public investments and a 30 year T-I-F district in which the taxes on the site would pay for the local taxpayer costs. Among other things, Foxconn guarantees that its screen plant would have a taxable value of one-point-four billion dollars by 2022, after construction begins next October. And it spells out public loans and ownership of land for the plant, future expansion, and a nearby site to be used by the company or suppliers. The memorandum came out just before three public information meetings on the Foxconn project, the first being today (Wednesday) in Mount Pleasant.