Benton County Portion of Paper Mill Sold for $11.5 Million
SARTELL - We're learning more about the sale of the former Verso Paper Mill today (Thursday).
The Benton County Auditor-Treasurer Kari Thorston says American Iron and Metal paid just over $11.5 million for the property on the east side of the Mississippi River. Of that total price, just over $9.1 million is listed as personal property -- including the hydroelectric dam valued at just over $7.6 million.
The price for more than 180 acres on the Stearns County side, mostly undeveloped land that included a commercial landfill, totaled another $940,000.
Kevin Brink of INH Property Management says AIM officials haven't determined yet if they'll try to sell the dam, or if they'll run it themselves and sell the electricity it generates.
The property has been operated as a paper mill since 1907.