Pursuant to Title 10, §1043 of the Maine Revised Statutes and 26 USCA §147(f), the Finance Authority of Maine (the “Authority”) will hold a public hearing at 10:30 a.m. on April 3, 2024, at 5 Community Drive, Augusta, Maine on an application 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 Madison, LLC (d/b/a TimberHP) / GO Lab, Inc.

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 rehabilitate, renovate, and equip the former Madison Paper Mill, including a nearby, related parcel with a truck scale, into a facility that 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, to produce wood fiber-based building insulation products (loose fill, batts, and 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:  $25,000,000

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 Title 10, §1043(2) of the Maine Revised Statutes, including public benefit and whether the Project could result in a substantial detriment to existing business. 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 April 1, 2024, to:

Finance Authority of Maine
Christopher H. Roney, Esq.
P.O. Box 949
5 Community Drive
Augusta, Maine 04332-0949
(207) 623-3263
croney@FAMEmaine.com

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.