Serving Gogebic, Iron and Ontonagon Counties
Serving Gogebic, Iron and Ontonagon Counties
By PAMELA JANSSON
BESSEMER — The Bessemer City Council approved on Monday evening a tax agreement that will allow the pending Iron Belle Apartments project to continue moving forward.
Chad Bucknell, a principal of that project, was present at the meeting and agreed with the decision, which will allow the city to choose over the period of a 30-year state loan to receive 50% of the project’s net cash flow or of a limited dividend payment, depending upon which is the higher yield in a given year.
At the request of Councilwoman Linda Nelson, the motion also included a c...
