GAYLORD -- The sale of the two-years-shuttered Georgia-Pacific factory in Otsego County's Bagley Township was delayed this week, but not derailed.
Not all of the needed paperwork for the property sale was prepared by the original closing date Thursday. But that doesn't mean the pending $46.5 million redevelopment proposal for the industrial site near Gaylord is on hold, officials said.
"Everything is poised and I predict within days of closing, you'll see activity out there," said Ken Glasser, chairman of the Otsego County Board.
Plans to breathe life into the former particleboard plant involve three forest products companies, including a wood pellet production facility, a hardwoods sawmill and a forestry supply business. Last month the state approved a $2.5 million grant for the redevelopment project to buy existing equipment in the factory, and pay for railroad and road improvements.
The next step is finishing the complex land deal, said Jeff Ratcliffe, executive director of the local economic alliance.
"The effort is to try to have it closed by the end of the month," he said.
G-P officials confirmed the land sale is still pending, but did not reveal their asking price.
"We do continue to work toward a closing, but because the deal is still pending, there's not much more we can say," said Julie Davis, G-P spokesperson.
About 160 positions are expected to directly be created by the development, plus additional jobs in logging, transportation and service shops are anticipated.
The new companies are Forest Resource Group, Gaylord Lumber Company and Woodland Harvesting, all owned by Alpena-based developer Roger Glawe. He could not be reached this week for comment.
A tax-free renaissance zone was also created for the property along Dickerson Road, which allows companies to avoid paying some state and local taxes for 15 years, except bonded millages to the schools and library. Early estimates put the annual tax break around $778,000 and the zone could be expanded for potential future developments, township officials said.
'Rumor Has It' Adele's Rolling in the Grammys
Grohl, Grammy Nominees Cut Up on the Red Carpet
Greece Passes New Austerity Deal Amid Rioting
Coroner: Houston Autopsy Results Weeks Away
Raw Video: Greek Rioting Ahead of Austerity Vote
Raw Video: Child Rescued After Kosovo Avalanche
Pop Music Superstar Whitney Houston Dies at 48
Whitney Houston's Church Mourns Her Passing
Reaction to Houston's Death at Clive Davis Party
79 Turtles Seized at Shanghai Airport
Severe Cold Wreaks Havoc in China
Fuel Removal Under Way on Capsized Italian Ship
Police: Houston Found Dead in Her Hotel Room
Paul Suffers Narrow Loss to Romney in Maine
Palin Brings Anti-Washington Message to CPAC
Obama Scraps Birth Control Mandate
Navy Names Ship for Gabrielle Giffords
Uzbek Man Pleads Guilty in Plot to Kill Obama
Marines: No Punishment for Nazi-like Flag
Vets Look to Translate Military Skills Into Jobs
