IRB bonding for cheese plant takes first step

by Emmitt B. Feldner of The Review staff

PLYMOUTH – The city will lend a hand to another industrial development in the new industrial park.

The City Council Tuesday took the first step to approving up to $10 million in industrial revenue bonds for OCS Plymouth LLC.

Oshkosh Cold Storage plans to build a 220,000-square foot cheese storage plant in the County PP industrial park. The Plan Commission has already approved the plans for the project.

City Attorney Crystal Fieber explained that, while the bonds would be issued in the city’s name, they would not be a debt of the city and the city would not be liable for a single penny in case of default. The money is borrowed and paid back by the recipient, OCS Plymouth, she added.

The industrial revenue bond mechanism allows OCS Plymouth to obtain a better interest rate on the borrowing, according to Fieber.

“We’ve done this in the past with several other industries in the city,” Mayor Donald Pohlman noted.

City Administrator Brian Yerges agreed, noting that such bonds had been issued for projects at Master Gallery, Plymouth Foam Products, St. Vincent dePaul and the former Valley View Medical Center.

The council approved the purchase of a new brush chipper for the city garage at a cost of $26,867.75.

Public Works Director Bill Immich explained that the replacement was unexpected, but that a metal spike left in a pile of brush deposited by a city resident got into the machine and caused substantial damage.

“We did look at the repair costs but they were so substantial,” that a replacement was more cost-effective, Immich told the council.

“It’s something we use every week and we can’t push it off,” he added.

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