OLD TOWN – The city council last week made official forgiving more than $300,000 in past due taxes and interest on the mill property to help move redevelopment there forward.
A deal to sell the property to a group of area investors was announced two weeks ago. As a condition of that sale, the city agreed to remove all liens on the property and forgive $305.000 in back property taxes for 2016 and 20-17 that had been unpaid by MFGR, the consortium that bought the mill in January 2016. It was feared initially that group would tear down the mill and sell it for scrap, but the consortium agreed to work with the city and other parties interested in the property being redeveloped.
The forgiveness of the back taxes carried two conditions – that a payment of $78,000 be made to the city, and that a purchase and sales agreement be executed to transfer 2.65 acres of mill property to the city. That part of the deal allows the city to gain access to 80 acres across Main Street from the mill, to where a separate company that remains unnamed has expressed interest in locating, bringing with it an unspecified number of manufacturing jobs.
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