I have read the many stories about Kennebec Valley Gas Co.’s requests for tax relief.

Madison recently held a referendum to ask voters to bond for the development of a natural gas pipeline from Richmond to Madison.

Our board of selectmen was in favor of the project.

Before the vote, Kennebec Valley Gas Co. paid for phone calls, letters and six glossy mailings telling Madison voters that the taxpayers would be on the hook and that their homes would be taken if the pipeline failed (not true).

The referendum was defeated by 27 votes.

Madison’s pipeline proposal did not require a TIF from any town.

If the pipeline deal was so bad for Madison residents, why would Kennebec Valley Gas Co. spend so much money to scare the townspeople and then seek its own tax relief?

The facts of the pipeline are that Madison would bond for only 15 percent of its assessed valuation and that the pipeline would be collateral.

Municipal bond expert Richard Ranagin said that the bond bank would approve Madison’s project only if it were feasible.

Madison Electric Works was created by town bonds and has been very successful for the town.

Residents of other towns voting on KVGC’s tax increment financing should consider that KVGC might be distorting the facts to get tax relief.

Beverly Wilder

Madison


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