Red Gold seeking major equipment update

Matt Tebbe, tax manager for Red Gold, was present at the regular Geneva Town Council meeting on Tuesday to discuss the possibility with council members of receiving a tax abatement for a major equipment purchase and installation. The estimated value of the proposed project is $12,704,000 with an assessed value of $5,081,600. The current value of manufacturing equipment for the company is $39,732,000 with the total value with the addition of the new equipment at $52,436,000.