Zoning Officer: Demolition of Hennepin Steel Mill Starting Again
|Image credit: News Tribune|
Monday night, zoning officer Jim Burger updated the Putnam County Board about the steel mill’s situation.
IPS Steel of Michigan, a former owner of the steel mill who sold the property to Hennepin Industrial last year, was given the ability to demolish the plant from a judge, Burger said.
In October 2017, William Marino with Hennepin Industrial Development announced demolition at the site was halted.
In October 2017, Marino said Hennepin Industrial and IPS Steel came to a mutual agreement that demolition would be halted until further notice, as Hennepin Industrial was in the process of refinancing so it could close the loan of what was owed to IPS — approximately $14 million at the time.
On Sept. 27, a motion was granted allowing IPS Steel to enter into a demolition contract with Alessio and Sons Co. of Illinois, according to online court records.
After the meeting, Burger said he and members of IPS Steel talked in a meeting last week about the situation. He also attended recent hearings involving litigation with the mill.
Source: News Tribune