Wednesday March 3, 2021 - 10:00 AM
Notice of Public Hearing
Pursuant to 10 MRSA §1043 and 26 USCA §147(f), the Finance Authority of Maine (the “Authority”) will hold a public hearing at its office at 5 Community Drive, Augusta, Maine on March 3, 2021 at 10:00 a.m. on an application by GO Lab, Inc. for a Certificate of Approval for issuance of Revenue Obligation Securities to finance the Project described below.
BOND ISSUER: Finance Authority of Maine
INITIAL OWNER /USER OF PROJECT: GO Lab, Inc. / GL Real Estate Holdings, LLC
PROJECT LOCATION: 1 Main Street and 93 Pine Street, Madison, ME 04950
DESCRIPTION OF PROJECT: Bond proceeds will be used to finance a portion of the costs to acquire, rehabilitate, renovate, and equip a production facility (the former Madison Paper mill), including a nearby, related parcel with a truck scale. The facility will recycle wood fiber biomass residuals, including thinnings (round logs too small to be used in lumber mills), and waste byproducts of lumber manufacturing and timber management operations, as the principal raw materials, which will be used to produce wood fiber-based building insulation products (loose fill, batts, and both flexible and inflexible boards), together with costs of issuance, construction period and other capitalized interest and a debt service reserve fund.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY THE AUTHORITY TO PROVIDE FINANCING FOR THE PROJECT: $85,000,000
Prior to issuing a Certificate of Approval, the Authority must make certain findings, including a finding that the Project will not result in substantial detriment to existing industry. Any person or competitor may attend the hearing, and will have an opportunity to make a brief statement regarding the Project or the financing. Comments are specifically requested on those criteria set forth in 10 MRSA §1043(2), including public benefit and whether the Project could result in a substantial detriment to existing business. Members of the public may attend the hearing in person or via ZOOM (ZOOM link available from the Authority upon request). Anyone planning to attend the hearing or to make a statement at the hearing is requested to notify the Authority and to send a written summary of the proposed comments no later than March 1, 2021, to:
Finance Authority of Maine
Christopher H. Roney, Esq.
P.O. Box 949
5 Community Drive
Augusta, Maine 04332-0949
The hearing may be continued to a subsequent date and time without further notice other than to those who have entered objections or requests for notification of the hearing.