Update on Appeal of MRC and Fiberight Permits
We are pleased to report that the final deadline passed and no appeals were filed on the recent decision by the Maine Business Court to uphold the MRC and Fiberight permits issued by the Maine Department of Environmental Protection (DEP).
With winter (hopefully) behind us and the threat of appeals behind us, it is now time to finish the road and utilities construction and for Fiberight to start building the facility. Fiberight CEO Craig Stuart-Paul has stated that
with the appeal behind us, they are now working full-speed to be sure that the facility will be open and accepting the community's waste by April 2018.
Fiberight's FAME Application
The Finance Authority of Maine's (FAME) Board of Directors approved Fiberight's application to qualify the project to finance debt with the best interest rate available. Fiberight has said that the FAME bonds would give them access to tax free financing, which could potentially save on interest costs. The debt financing will be provided by private lenders.
This qualification comes with no cost or debt obligation to the State of Maine taxpayers.
Craig Stuart-Paul said, "We are delighted to pass one more milestone toward completion of our project. We, and MRC, are now full speed ahead with our goal to achieve this most important milestone by April of next year."