NEW ALBANY, Ind. (AP) – The New Albany City Council has scheduled a special meeting for Tuesday to consider offering $7 million in economic incentives to General Mills to try to keep a Pillsbury plant open.

General Mills announced earlier this month it planned to close its refrigerated goods plant that employs 400 by mid-2016, but said its decision was subject to negotiation with union officials. 

City officials are still working on the exact terms of the financing package, but the plan calls for the city issuing bonds. The resolution would require General Mills to keep the plant open for a minimum of five years after the bond is issued. Mayor Jeff Gahan says the goal is to keep the facility in operation as long as possible.