Recycler Receives Bonds for Move

The Baltimore (Md.) County Council approved resolution 91-01, to issue up to $2.3 million in economic development revenue bonds on behalf of Terrapin Recycling and J&G Realty.

Baltimore County Economic Development Revenue Bonds are a financial instrument that, by federal law, allows manufacturers and non-profit organizations to purchase land and equipment by using tax-exempt bonds.

The bonds will go toward purchasing around 7.5 acres in Baltimore County, as well buying a building with around 75,000 square feet. Terrapin is a non-ferrous scrap processor presently operating in Ann Arundel County, Md. The company’s focus is primarily on scrap aluminum.

Kurt Heinrich, assistant secretary and legislative draftsman for Baltimore County, the company could begin the relocation process by next month, and start operating at the new site by the end of this year.

A representative for Terrapin Recycling said the company will likely begin the move this fall. The company is moving to the new location due to an increase in space that the company needs. The company will close its existing yard when it completes the move to the new location.