County borrowing to buy land from alternative fuels company
Published: May 2,2013
NATCHEZ — Adams County will borrow the $9 million it now needs to buy the former International Paper property from Rentech.
County officials announced earlier this week they had reached a deal with Rentech for the 478-acre property.
Officials tell the Natchez Democrat the board of supervisors will adopt a resolution to issue bonds for the $9 million. Local residents will have the opportunity to petition for an election before the bonds are issued.
Natchez Inc. executive director Chandler Russ said the property had to be purchased as a whole unit because Rentech was not interested in parceling it off.
Russ says Natchez Inc. is now working with the competing bidders about the use of the property, and five potential industrial clients are interested in the property in some fashion.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal