Lowndes Advises Mineral Development Holdings, LLC on $90-million Municipal Bond Financing for Secondary Phosphate Tailings Recovery Project
Lowndes represented Mineral Development Holdings, LLC with the issuance by the Polk County Industrial Development Authority of $90 million in Industrial Development Revenue Bonds (Mineral Development, LLC Secondary Phosphate Tailings Recovery Project), Series 2020, for the construction and equipping of a 35,000-square-foot facility in Bartow, Fla., that will recover and process phosphate tailings into marketable phosphates.
Groundbreaking for the project will be held in late 2020, with construction expected to be completed by the end of 2022. The project will include recovery operations on approximately 4,400 acres located adjacent to the facility.
The Lowndes team representing Mineral Development Holdings, LLC was Jason Rimes (corporate) and Michael Gibbons (construction). The team will continue to assist with development and construction of the project.