The Oneida County Board has approved a $15 million dollar state loan help buy and renovate the former Printpak building on Kemp Street in Rhinelander.
The complex deal includes Oneida County getting the money from the Board of Commissioners Of Public Lands, sending to the Northeast Wisconsin Development Corporation who in turn will get the former manufacturing plant ready for Rhinelander Coated Products. a business unit of Expera Specialty Solutions, that will make silicone-coated paper release liners.
The loan would be paid back just over 6 years. The vote to approve the loan deal was 17-1.
Initially the city of Rhinelander was part of the deal, but now is not. The Oneida County Board agreed to be sole fiscal government agent.
After a closed session, Supervisor Jack Sorenson felt Rhinelander should pick up some of the burden should there be a problem with the loan. Supervisor Alex Young, also a City Council member thought that could endanger a delicately woven deal....
"....I think throwing this monkey wrench into the works at this stage of the game jeopardizes the project and it's kind of rolling the dice on one of the most important votes I've taken on the county board...."
Supervisor Carol Pederson says Rhinelander residents are also Oneida County residents.
When completed, a new higher roof will be in place on the building to make way for the company's machinery. The process line would operate 24 hours a day, seven days a week and employ approximately 20 full-time employees.
