China’s Tax Increment Financing (TIF) Committee members decided on Jan. 14 they are satisfied with their proposed amended wording to China’s TIF document. They began deciding what amounts of money to recommend voters appropriate for each of the various TIF projects.
The Second Amendment (to the original 2015 TIF plan; the first was in 2017) includes three new categories for which TIF funds can be used, if voters approve the revised document. They are:
- “Costs of funding environmental improvement projects developed by the Town,” with specific references to funding China Lake Association and China Region Lakes Alliance projects. With advice from resident Scott Pierz, president of both associations, the committee recommended appropriating $50,000 for this category for each of the next two years.
- “Costs associated with the development of fisheries and wildlife or marine resources projects,” specifically contributing TIF money toward building a fishway at the China Lake outlet Dam, in East Vassalboro, to allow alewives to migrate into and out of China Lake. The Jan. 14 meeting ended before committee members discussed funding for this and the next new category.
- “Costs related to broadband service development, expansion and improvement, including connecting to broadband service outside the District….”
The Jan. 14 draft TIF document is on the town website, china.govoffice.com. Go to Officials, Boards and Committees at the top of the page, scroll down to and open Tax Increment Financing Committee and the third document from the bottom of a long list is Second Amended TIF Draft Jan. 2021 China, followed by two related documents.
Specific proposed TIF projects are listed on pages 8 through 13 of the document. Committee members discussed the new ones and a few of the already-listed ones.
For example, the South China boat landing remains on the list, with a double focus: a boundary survey to find out exactly how much land the town owns, and erosion control measures. Committee members discussed potential costs and recommended $15,000 over the next two years.
Expenditures with a time limit are to be reviewed before the limit expires.
Committee members talked in late 2020 about possibly having Amendment Two ready for voters’ action at the May town business meeting. They made no commitment.
The next TIF Committee meeting is scheduled for 6 p.m. Wednesday, Jan. 27, and is expected to be a virtual meeting.
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