Summary
EAST MILLINOCKET - Meriturn Partners LLC seeks a total of $48 million in tax breaks from East Millinocket and Millinocket over 10 years for the Katahdin region's two paper mills and would buy the mills from their present owner for $1, leaders from both towns said Tuesday.
Speaking after a closed-door meeting between the Millinocket Town Council and the East Millinocket Board of Selectmen in the town library, Millinocket Town Manager Eugene Conlogue and East Millinocket board Chairman Mark Scally revealed details of a Meriturn letter outlining the potential purchase of the mill from owner Brookfield Asset Management of Toronto and the tax breaks the San Francisco investors are seeking from the municipalities.See the full content of this document
Extract
Mills' Buyer Seeks $48m in Town Tax Breaks
Meriturn signed a letter of intent on Feb. 11 to purchase the mills by April 29 if several conditions are met, including the setting of favorable property tax rates for the m...
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