If Intel follows through on purchase, it would create the secondbiggest campus in the country, falling just 30 acres shy ofmatching its Octotillo, AZ location. The land used to be part ofthe 24,000-acre Banning Lewis Ranch, annexed by the city in 1988. Ayear later, the acreage fell into receivership when its specialdistrict defaulted on millions of dollars in bonds to financeinfrastructure on the parcel.

The Colorado Springs City Council recently approved a one-timefee of $3,000 per acre to settle concerns that a property ownerwould have to pay too much money for roads and other improvementsto the land. Conceivably, the buyer would have been responsible forall of the improvements for the entire Banning Lewis Ranch. Theone-time fee would add $2.1 million to the $5.3 million price tag,but would get it off the hook as far as paying for otherimprovements to the full 24,000 acres.

Intel currently employs 1,100 people in a 500,000-sf plant onGarden of the Gods Road in northwest El Paso County. That plantsits on 62 acres.

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