Friday, April 18, 2014
MADISON — Residents approved an updated tax agreement with Backyard Farms on Monday night at a special town meeting.
The amendments to the tax-increment financing, or TIF, district that was established with Backyard Farms in 2006 include a list of updated community development projects that would be financed with projected increases in tax revenue from the private investments of the greenhouse.
Fifty-seven people attended the meeting, and the proposal passed unanimously, Town Manager Dana Berry said.
“I’m glad it passed because this will give us the opportunity to do some things we haven’t in the community and a new list of projects to work on,” Berry said.
The list includes reconstruction of various roads, including River, Old Country, Ward Hill and Russell roads; general road maintenance; costs associated with the construction of a new public safety building for fire and rescue personnel; creating multi-use recreational trails; and upgrading the town’s public boat landings on the Kennebec River and Lake Wesserunsett, according to an application for amendments to the TIF.
The next step toward enacting the new agreement is to get approval from the state Department of Economic and Community Development, which oversees municipal tax increment financing, Berry said. He hopes to have the application filed with the state by the end of the month, he said.
Rachel Ohm — 612-2368 email@example.com