Tax Increment Financing (TIF) District Designation Timeline

2018 Mar 1Submission – Completed application submitted to DECD by March 1, 2018 for FY 17-18 tax year
2018 Feb 14Special Town Meeting – vote on designation of district (30-A M.R.S.A. § 5223) and adoption of development program (30-A M.R.S.A. § 5224)
2018 Feb 6

Council to hold public hearing (30-A M.R.S.A. § 5226) on proposed district and development program

Development program must be adopted at the same time as the district or with same notice and public hearing requirements if done separately

2018 FEb 6Town Council approves warrant for Special Town Meeting
2018 Jan 317:00 PM Public Workshop to Discuss TIF – Property owners in TIF to be invited to workshop.
2018 Jan 256:00 PM Town Council Workshop to Discuss TIF
2018 Jan 22

January 22, 2018 – for January 26, 2018 publication - Notice of public hearing – published at least 10 days in advance of hearing in newspaper of general circulation (30-A M.R.S.A. § 5226)

NOTE: Development Program must be available for review when notice is published.  This means that the majority of the work needed to designate the district and determine its terms should be complete prior to publishing this notice

2018 Jan 5TIF draft from Alyssa Tibbetts
2017 Dec 20Meeting with Alyssa Tibbetts to go over first draft
2017 Dec 15First Draft provided to staff for December 20th discussion
ASAPStaff designates proposed district – acreage and parcels included.  Determine percentage of overall Town acreage.
ASAPStaff provides suggestions for improvements of infrastructure, how money captured, what spending money on and identify eligible project costs
ASAPStaff suggests properties outside of TIF District that could benefit from improvements