Northern Beef Packers faces liens
April 10, 2012
by Meat&Poultry Staff
ABERDEEN, SD – Mechanic’s liens have been filed against Northern Beef Packers, according to a report in the Aberdeen News.
The new liens total more than $474,000. Many other businesses have also filed mechanic’s liens against the processing plant in the past. Those liens total more than $12 million, according to the report. Money from the sale of tax increment finance bonds will be used to pay construction costs and the liens. Roughly $2.8 million in TIF bonds already have been sold. A total of $8.5 million in TIF bonds can be sold to fund construction on the plant. The deadline for the bonds to be sold is April 27.
Laure Swanson, spokeswoman for Northern Beef Packers, said the bonds are important because the company doesn’t want to borrow more money. Construction on the processing plant has slowed on lack of finances.