The Free Press, Mankato, MN

Local News

January 12, 2013

Mankato weighs tax subsidy for plastics plant

(Continued)

MANKATO —

The site’s soil isn’t suited to construction, and an estimated 16,000 cubic yards have to be removed and replaced.

According to the memo, “The area has ‘lenses’ of challenging soil for construction and the council has been willing to provide assistance to offset these extraordinary site development costs for primary economy businesses.”

The $300,000 loan, for equipment, would be paid back at seven years at an interest rate of 3 percent.

The council’s economic development authority meeting begins at 6 p.m. Monday in the Intergovernmental Center.

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