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Canton's governing board has approved a land purchase agreement with Two Banks Development LLC for 52.1 acres of the former Pactiv Evergreen paper mill site, including the chip yard and distribution center. The acquisition, costing $14 million, aims to secure wastewater treatment infrastructure and facilitate redevelopment after the mill's 2023 closure.

A new municipal wastewater treatment plant is planned to be operational by 2031. The town will maintain control over future development, addressing environmental concerns and ensuring compliance with regulations through North Carolina's Brownfields program. The first closing is set for March 24.