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Strategic Fund Board approves millions in project financing

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The Michigan Potash Company is seeking around $225 million in bonds to pay for sewage and wastewater treatment.

Now, a state board is approving an administrative step so the process can move forward.

Chris Cook is with the Michigan Economic Development Corporation. He says the next steps are an independent evaluation, and then another board vote.

“We don’t necessarily have an exact date, but it could happen—a request for authorization if we get to that step could occur before the end of the calendar year.”

Officials expect the project’s total investment in the region to top a billion dollars.