Notice of Public Hearing
The Finance Authority of Maine (the “Authority”) is empowered under the Finance Authority of Maine Act, Chapter 110 of Title 10 of the Maine Revised Statutes, as amended, to issue its Revenue Obligation Securities, the interest on which may be exempt from federal income taxation, to assist in financing and refinancing projects for the purpose of providing enlarged opportunities for gainful employment by the people of the State of Maine and to insure the preservation and betterment of the economy of the State of Maine.
The Authority has received an application for the issuance of Revenue Obligation Securities from Casella Waste Systems, Inc. (the “Company”) (the “Series 2024 Revenue Obligation Securities”), seeking approval for the financing and refinancing of the Project described below. Pursuant to 10 MRSA §1043 and 26 USCA §147(f), a public hearing will be held by the Authority at its offices at 5 Community Drive, Augusta, Maine, on Thursday, November 7, 2024 at 10:30 a.m., to receive comments on, and to consider the application for a Certificate of Approval for the Project components described below, which comprise “solid waste disposal facilities” within the meaning of 26 USCA §142(a)(6):
PROJECT OWNER AND/OR USER: Casella Waste Systems, Inc. or affiliates thereof
PROJECT LOCATIONS: The Project comprises eleven (11) distinct components, each of which is or has been operated by the Company or its affiliates as an integrated solid waste operation, as follows:
- Biofuels – Approximately $100,000 stated principal amount for refinancing Project components located at:
38 Alfred Plourde Parkway, Lewiston, Maine 04240 (Androscoggin County) - Casella Organics – Not to exceed $1,500,000 stated principal amount for Project components located at:
48 Liberty Drive, Suite A, Hermon, Maine 04401 (Penobscot County)
5 Fundy Road, Falmouth, Maine 04105 (Cumberland County)
1100 Waterville Road, Unity, Maine 04988 (Waldo County)
73 Reynolds Road, Unity, Maine 04988 (Waldo County) - Casella Recycling – Not to exceed $1,500,000 stated principal amount for Project
components located at:
424 River Road, Lewiston, Maine 04240 (Androscoggin County)
13 Gibson Road, Scarborough, Maine 04074 (Cumberland County) - Casella Eastern Region Office – Not to exceed $250,000 stated principal amount for Project components located at:
207 Larrabee Road, Westbrook, Maine 04092 (Cumberland County)
110 Main Street, Suite 1380, Saco, Maine 04072 (York County) - Hampden, Maine Landfill – Approximately $7,500,000 stated principal amount for refinancing Project components located at:
358 Emerson Mill Road, Hampden, Maine 04444 (Penobscot County) - Hermon, Maine Collection – Not to exceed $6,500,000 stated principal amount for Project components located at:
31 Freedom Parkway, Hermon, Maine 04401 (Penobscot County)
25 Freedom Parkway, Hermon, Maine 04401 (Penobscot County)
246 Gilman Falls Avenue, Old Town, Maine 04468 (Penobscot County) - Houlton, Maine Collection – Not to exceed $2,000,000 stated principal amount of Project components located at:
9 Florence Avenue, Houlton, Maine 04730 (Aroostook County)
37 Florence Avenue, Houlton, Maine 04730 (Aroostook County) - Juniper Ridge, Maine Landfill – Not to exceed $22,500,000 stated principal amount of Project components located at:
2828 Bennoch Road, Old Town, Maine 04468 (Penobscot County) - Maine Energy – Approximately $4,000,000 stated principal amount for refinancing Project components located at:
3 Lincoln Street, Biddeford, Maine 04005 (York County) - Southern Maine Portland Collection – Not to exceed $11,500,000 stated principal amount of Project components located at:
66 Andrews Road, Biddeford, Maine 04005 (York County)
64 Arthur J Reno Sr. Road, West Bath, Maine 04530 (Sagadahoc County)
299 Walkers Mills Road, Bethel, Maine 04217 (Oxford County)
30 Elm Street, Mechanic Falls, Maine 04256 (Androscoggin County)
32A Lewiston Street, Mechanic Falls, Maine 04256 (Androscoggin County)
87 Pleasant Hill Road, Scarborough, Maine 04074 (Cumberland County)
594 County Road, Westbrook, Maine 04092 (Cumberland County) - Waterville Maine Collection – Not to exceed $5,000,000 stated principal amount of Project components located at:
73 Main Street, Mars Hill, Maine 04758 (Aroostook County)
6 Gerald Terrace, Fairfield, Maine 04937 (Somerset County)
3 Lafleur Road, Waterville, Maine 04901 (Kennebec County)
DESCRIPTION OF PROJECT: The Project consists of the (1) refinancing of the currently outstanding $25,000,000 stated principal amount of Finance Authority of Maine Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2005R-3 (the “Series 2005 Bonds”), which financed certain solid waste disposal facilities, including landfill development costs and construction, disposal equipment and related improvements, Maine Energy Recovery Company capital maintenance, buildings and office improvements, office equipment, vehicles, containers, equipment, land and the costs of issuance of the Series 2005 Bonds; (2) financing of the acquisition, development, construction and/or equipping of facilities used in connection with the disposal, conversion, or reclamation of solid waste, including, without limitation: (A) the acquisition and equipping of new collection vehicles, trucks, trailers, solid waste disposal containers and related equipment, and computers; (B) the acquisition and installation of certain solid waste recycling sorting and processing equipment; (C) the acquisition, construction, improvement and equipping of certain solid waste disposal, collection, transfer, recycling and customer care facilities; (D) the acquisition and development of landfill facilities including (i) landfill cell development and liners to create additional disposal capacity at the Company’s permitted landfill sites, (ii) landfill gas treatment and processing infrastructure, and (iii) other related costs including paving, grading and other infrastructure improvements; and (E) additional capital expenditures for the development, design, engineering, replacements, demolition, construction, and renovation that were, or will be, undertaken or incurred to accomplish the foregoing; and (3) the funding of the costs of issuance and other common costs of the Series 2024 Revenue Obligation Securities.
All such Project components were or are located or are to be located at and operated from and at one or more of the Project locations identified above. The Project shall also include any installation, development, design, engineering, replacements, demolition, improvements, equipment, construction, renovation, structures, permitting and capital expenditures that were, or will be, undertaken or incurred to accomplish the foregoing.
MAXIMUM AMOUNT OF SERIES 2024 REVENUE OBLIGATION SECURITIES TO BE ISSUED BY THE AUTHORITY TO PROVIDE FINANCING AND REFINANCING FOR THE PROJECT: $45,000,000
Interested members of the public are invited to attend the hearing. The Authority staff will present information relative to the Project and the proposed financing and refinancing thereof by the Series 2024 Revenue Obligation Securities and invite questions from persons attending. In addition, persons attending will have an opportunity to make a brief statement regarding the Project and the proposed financing and refinancing thereof by the Series 2024 Revenue Obligation Securities. Comments are specifically requested on those criteria set forth in 10 MRSA §1043(2), including public benefit and whether the Project could result in a substantial detriment to existing business. Persons planning to attend the hearing or to make a statement at the hearing are requested to notify the Authority in writing no later than 5:00 p.m. on November 4, 2024. Members of the public may attend the hearing in person or via Zoom (Zoom link available from the Authority upon request).
Persons wishing to make written comments are requested to provide the written comments to the Authority before the hearing. Written comments will also be accepted at the hearing.
If additional information is required on the proposed Series 2024 Revenue Obligation Securities or the Project, please contact:
Finance Authority of Maine
Christopher Roney
5 Community Drive
P.O. Box 949
Augusta, Maine 04332-0949
(207) 620-3520
croney@FAMEmaine.com
View the recording of this hearing.
