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Cate Street Capital will receive a $16 million bond, not a $25 million bond.

MILLINOCKET, Maine (NEWS CENTER) -- The company looking to build a pellet mill in the Katahdin region suffered a major setback Thursday.

The Finance Authority of Maine board voted 8-5 to decrease a $25 million dollar bond to finance the project, down to $16 million. The board cited concerns about the amount of collateral.

Cate Street Capital, the company behind the mill project, said they were disappointed in the reduction and are unsure how the decreased money will affect the project.

'Thermogen' project in Millinocket faces uncertain future

MILLINOCKET, Maine (NEWS CENTER) -- A project that many hoped would bring jobs back to Millinocket now faces an uncertain fate as officials in Maine will once again have to consider whether they should approve state taxpayer-backed financing for the project

The Thermogen project has been years in the making for the town. 'Cate Street Capital,' which is the company that owns the site of the old Millinocket paper mill, has been looking to build the new plant since 2011.

'Cate Street' wants to make energy rich wood pellets called 'biocoal' on the site of the old mill. Yet now changes to the plant's production model could put it's funding in jeopardy.

Why won’t my aging parents let me help them?

Why won’t my aging parents let me help them?

Have you had moments of frustration, wanting to help your aging parents in some way only to find they refuse you? It can be very frustrating to meet with resistance. You likely find yourself experiencing a great deal of ambivalence — strong, conflicting feelings that can be unsettling.

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