EAST MILLINOCKET, Maine — The town of East Millinocket has purchased the former Great Northern Paper Company mill site from Katahdin KI 50, LLC.
The deal was closed on Tuesday for $1.45 million, which was raised through federal grants, said East Millinocket Selectman Mike Michaud.
The Town is hoping to develop the property as an industrial complex with multiple industrial users, Michaud said. It will now seek funding from a number of identified grants, foundation monies and low interest loans to assist in mill site improvements and modifications.
Katahdin KI 50 and Metro Industrial Demolition & Environmental Contractors will commence demolition of the steam plant/biomass facility which should be completed within 18 months of the town’s purchase of the site.
Michaud said they already have a business interested in moving to the property.