LEE COUNTY – The Lee County Board of Supervisors put their stamp on an incentive package that was discussed last week to spur construction on a $15 billion steel plant in Lee County.
The board approved the term sheet with a unanimous 5-0 vote in what Supervisor Chuck Holmes called an anticlimactic event, with the officials from Mesabi Metallics on hand, as well as Lee County Economic Development Group President Emily Benjamin and staff.
The incentive package is a 20-year deal that includes a host community piece, a $112 million initial taxable valuation, a 20-year TIF piece and a 20-Year Payment In Lieu Of Taxes (PILOT) program…