ISHPEMING, Mich. (WZMQ) – Over the past month, the City of Ishpeming has been in the process of striking an agreement with Cleveland-Cliffs Incorporated to purchase 1,107 acres of its land back. Through July, the city has been in closed session negotiations with the company, and has negotiated a price of $239,753 ($216.58/acre).
If passed, the county would undergo a loss of roughly $23,000 in revenue annually, but a heightened interest in the matter is the key properties listed in the sale. This includes the U.P. Nordic Ski Complex’s ‘Suicide Bowl,’ and Cedar Beach, currently leased by Cleveland-Cliffs through 2048. On Tuesday evening, the city held a special meeting for residents to discuss concerns about the property sale, seeing good responses from both sides.
“It feels like its a win for everybody, its very rare, especially with this amount of property,” said Ishpeming City Manager, Randy Scholz. “It’s over 11,000 acres, but the price feels right.”
On Wednesday, the city will discuss the matter further and make a final decision.
