The Great Falls Development Authority allocates $234,000 for Montana Specialty Mills

The Great Falls Development Authority http://www.gfdevelopment.org/ Board of Directors voted Wednesday to give about $234,000 in grant funds to Montana Specialty Mills to help the company construct a new facility in Cascade County.

The GFDA originally secured the $289,000 grant from the U.S. Department of Housing and Urban Development several years ago to help pay for a rail spur to the malt plant north of the city, Brett Doney, president of GFDA, told board members at their monthly meeting. However, the grant was secured too late to help fund that project.

Two years ago, the GFDA used about $20,000 of that money for rail engineering for the Great Bear Innovation Park, which will be located north of Great Falls near the malt plant. Another $25,000 has been spent on project management.

Doney proposed to the board that the GFDA offer the remainder of the grant to Montana Specialty Mills to be used to build infrastructure at whatever site the company chooses in Cascade County. The grant could be used for water, sewer or rail infrastructure.

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Doney hopes to increase the number of properties listed on the GFDA’s Prospector website http://www.greatfallsprospector.com/ed.asp , where investors can list properties for sale.

By ERIN MADISON • Tribune Staff Writer

Full Story: http://www.greatfallstribune.com/article/20100722/BUSINESS/7220305/1046/SPECIALSECTION05