JAY — Voters will be asked Monday, Jan. 13, to transfer $100,000 from the town’s approximately $6 million in undesignated revenue to a legal account to pay for industrial valuation specialists.
The town meeting will begin at 6 p.m. at the Town Office.
Verso Paper Corp. officials, Jay town officials and experts met last August to discuss the valuation of the company’s Androscoggin Mill.
At the time, Town Manager Ruth Cushman said Verso believes the value of the mill and its property in Jay is too high.
The company has until late February to file a tax abatement request, Cushman said Monday.
The town has a specialized industrial assessing firm that focuses on assessing the paper mill and its properties.
“We have had to hire some specialists in industrial valuation,” she said.
That is why $100,000 needs to be transferred to the legal account, she said.
The Tennessee-based Verso Paper announced Monday that it plans to buy the Ohio-based NewPage Holdings Inc., which includes the Rumford mill and six others in the United States. The $1.4 billion deal is expected to be closed during the second half of this year.
dperry@sunjournal.com
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