Moberly May Launch Its Own Mamtek Investigation
MOBERLY - A Joint investigation continues on Project Sugar for Mamtek, Inc. in Moberly.
A closed session meeting held at Moberly City Hall on Friday extended the final decision regarding City action by November 1st.
According to a statement from the Interim City Council, the issue still required further discussions and consultations with staff, the IDA, and the Bond Trustee.
Mamtek in Moberly is under this investigation due to a deal struck with Bruce Cole to create 612 jobs at an artificial sweetner factory, but Mamtek defaulted on an August bond payment, costing the city of Moberly all of these jobs and the possibility of the city spending $53.7 million in the next fifteen years just to pay back money for the now unused factory.
A couple members of the community attended the meeting, and they were looking to hear good news.