At a brief meeting Feb. 9, members of China’s Tax Increment Financing (TIF) Committee unanimously approved four requests for TIF funds for the 2022-23 fiscal year. Their recommendations go next to the select board; voters at the June 14 town business meeting will make the final decision.
The approved applications were from the Thurston Park Committee, for $34,600; from the China Region Lakes Alliance, for $50,000; from the Four Seasons Club, for $30,000; and from the China Broadband Committee, for $40,000.
The requests do not exceed the limits in the different accounts from which the funds are to be allocated, Town Manager and TIF (and town) Treasurer Rebecca Hapgood said.
In reply to a question left over from the previous TIF meeting (see The Town Line, Feb. 3, p. 3), whether money appropriated for the current fiscal year (July 1, 2021 – June 30, 2022) but not spent by June 30 can be carried forward, Hapgood reported town attorney Amanda Meader said the answer appears to be yes.
Committee member Jamie Pitney said that answer makes sense. Some of the accounts need time to accumulate, he pointed out, and without carrying unspent funds forward from year to year, accumulation is impossible.
With their major task for the 2022-23 budget accomplished, committee members did not schedule another meeting. They intend to skip March; late April is a possibility.
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by Mary Grow
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