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Article: City lends hand in G-P mill plans Old Town prepared to risk $1.5M to help Red Shield Environmental
- Article from:
- Bangor Daily News Bangor, ME
- Article date:
- November 29, 2006
- Author:
CopyrightCopyright 2006 Bangor Daily News Bangor, ME. Provided by ProQuest LLC. (Hide copyright information)
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OLD TOWN - To assist the new owners redeveloping the site of the
former Georgia-Pacific Corp. mill, the city has extended a hand to
buyer Red Shield Environmental that could total $1.5 million.
"That's only if everything doesn't come to fruition and the worst-
case scenario occurs," said City Manager Peggy Daigle in an interview
Tuesday.
"When you look at that facility and see how large it is - how it
looms over the entire city and what an economic asset it has the
potential to be - it doesn't make sense for the city not to take a
risk and not to put themselves out there," Daigle said.
G-P decided March 16 to close the mill, and a sale to Red Shield
was completed earlier this month. While ...