Cold Service Storage Deal Inked
By Donnelly Clare
City leaders Monday night formally approved a deal that will allow Service Cold Storage to break ground this year.
The Stevens Point Common Council has approved the purchase and sale of a 37 acre parcel inside the East Park Commerce Center, 27 acres of which will go to the cold storage company. City leaders expect to have a site plan for approval in September.
According to city documents, $1.2 million in loans has been granted to the company for the construction and development of the property. Stevens Point will hold the lien on the building until certain benchmarks in repayment are met.
The company expects to create 35 new jobs in the 160 square foot facility. Company officials say they expect to start construction as soon as September.