CMP TIF Amendment Public Hearing - Tues. April 2 @6:30PM

This amendment is the second of the original CMP TIF approval. The TIF was created in 2014 in response to a $10 million dollar CMP investment, upgrading 2.2 miles of existing transmission line. With 100% capture of TIF proceeds, the town makes improvements to downtown infrastructure in support of economic development efforts. Those efforts included both waterfront improvements on public property for the purposes of commercial conversion as well capital and operational investments in areas outside this district, including Merrymeeting Trail improvements. The June 14, 2023 amendment extended the period of the TIF from 20 to 30 years to continue to make capital improvements and operational investments, while also creating funds for affordable housing programs, and adjust the Program statement to address new and varied development projects in the waterfront/downtown of Bowdoinham. The second amendment to be heard at this meeting aims to expand the TIF district to include parcels U01-019 and U01-020 where the current Town Office and Old Town Hall reside, respectively and adjust the Program statement to address new and varied development projects at these parcels in addition to the waterfront/downtown of Bowdoinham. The TIF funds are expected to match other state, federal, and private funding sources to complete these capital projects, thus establishing a total program cost of $11.4 million. To learn more please read the proposed draft amendment and tune in on Zoom or join in person for the public hearing. The meeting will also be recorded.