Hudson Baylor Corp. has received preliminary approval from the Dutchess County, N.Y., Industrial Development Agency for low-cost financing to build a large material recovery facility (MRF) in Beacon, N.Y. The county agency says it expects to issue nearly $20 million in bond financing that Hudson Baylor will sell in the private market.
William Jennings, chief financial officer of Hudson Baylor, says the money will be used to build a 60,000-square-foot single-stream MRF. The plant has been designed to handle most types of recyclables generated through municipal collection programs.
The company, based in Newburgh, N.Y., has a dozen locations, primarily in New York, New Jersey and Connecticut.
Jennings says the company has all the permits needed to build the greenfield operation. Currently, in addition to working to wrap up its financing, the company is in discussions with haulers and municipalities to provide MRF with recyclables to process.
The company says it hopes to have the Beacon MRF operational by the end of 2011.
Along with the Beacon project, Jennings says the company also is working on the opening of another MRF and the acquisition of a transfer station.
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