From Financialpost · · 1m 10s
Two Harbors Council Approves Rare Gas Hub Deal
Two Harbors City Council approves $1.00 purchase of land for Pulsar's rare gas hub project.
In brief
Two Harbors City Council approves $1.00 purchase of land for Pulsar's rare gas hub project. Two Harbors City Council approved a $1.00 land purchase agreement for Pulsar Helium's rare gas hub project in Minnesota, including tax abatements and infrastructure support. Originally reported by Financialpost.
Two Harbors City Council approves deal
Two Harbors City Council approved a Purchase and Development Agreement for Pulsar Helium MN's proposed rare gas hub project in Minnesota.
Land purchase at $1.00
The agreement sets a US$1.00 purchase price for land within an existing industrial district of Two Harbors.
City provides infrastructure support
City offers up to US$1 million for rail construction, site clearing, and utility extensions under the agreement.
Tax abatements included
The City will reimburse 90% of increased property taxes paid by Pulsar MN for 15 years under the agreement.
Rare gas hub project details
Pulsar plans to develop the site as a rare gas hub for helium liquefaction and carbon capture capabilities.
Project completion conditions
Completion requires property review, financing, utility arrangements, and required land-use approvals before closing.
The bottom line
Two Harbors City Council approved a $1.00 land purchase agreement for Pulsar Helium's rare gas hub project in Minnesota, including tax abatements and infrastructure support.
