City is now the owner of the Benson Power site

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By Reed Anfinson
Publisher
Swift County Monitor-News

As of Dec. 19, the City of Benson is the owner of the former Benson Power (Fibrominn) site.

It paid $1,304,712 for the 77-acre site, which also includes the large fuel hall building, the administration building, the road infrastructure and the weigh scale.

The city also will be writing a $450,000 check to Missouri River Energy Services as part of a contractual agreement that was in place with the City of Benson, Benson Power and Xcel Energy.

Funds for the $1,754,712 purchase will come from the $10.5 million the City of Benson has already received from Xcel Energy as part of an agreement worked out between the city, Xcel and the Minnesota Legislature that led to the closing of the plant. Another $6.5 million payment is expected at the end of June with a final $3 million in 2021 bringing the total to $20 million.

The payments are intended to help Benson replace the jobs, property taxes and economic vitality Benson Power represented for the community. Back in the early 2000s, the Minnesota Department of Employment and Economic Development (DEED) estimated the plant would create $8 to $10 million in economic activity for the region annually...

 

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