News, notes, and observations from the James River Valley in northern South Dakota with special attention to reviewing the performance of the media--old and new. E-Mail to MinneKota@gmail.com

Friday, April 13, 2012

More obstacles for Northern Beef Packers

The date for the opening of Northern Beef Packers in Aberdeen is being pushed back some more awaiting final sales of Tax Increment Financing bonds and the disposal of more mechanics' liens on the property filed this year.

According to a trade newspaper article,   almost a half million dollars in additional mechanics' liens have been filed with the Recorder of Deeds office:

 By Jensen Rock and Sand of Aberdeen for $176,125 on March 25  for ready mix, concrete, fuel, rebar, pea rock, grout mix and other items.
 By Webster Scale Inc. of Webster for $29,695 on March 15 for installing a scale, labor and materials.    
By SBI General and Mechanical Inc. of Waterbury, Neb., for $143,639   for construction, labor and materials.    
By Frazier Industrial Co. of Long Valley, N.J., for $126,718 on Jan. 30 for services, materials.
Northern Beef Packers officials have said they will settle the mechanics' liens with the proceeds from the sale of the TIF bonds, which can be used for construction purposes.  The county has authorized $8.5 million in TIF bonds.  The county auditor's office reports that $2.85 million have been sold as of this week.  A company spokesperson says that all the bonds have been sold but paper work needs to completed to finalize the sales. 

 In other developments, a law suit by Chinese investors against the person and organization that managed the EB-5 arramgements for foreign investors was dismissed by the U.S. District Court, as was a counter suit. 






 
 


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