WATERVILLE — The City Council is expected to consider a final vote Tuesday on a tax increment financing district for three Colby College properties in downtown Waterville, a move expected to generate revenue that could be used for other purposes, including downtown parking management.

The meeting is scheduled to begin at 7 p.m. and be livestreamed from a link at the city’s website — www.waterville-me.gov. Those wanting to take part in the meeting must contact the city clerk’s office by 5 p.m. Tuesday to receive log-in or call-in credentials.

The council voted 6-1 on Dec. 1 to amend the current downtown TIF district and related development program by removing the three Colby properties from that district. Councilors also voted 6-1 to create a new district and place the properties in that district.

The properties to be removed and placed in the new district are 93 Main St., the site of the future Paul J. Schupf Art Center; 9 Main St., where the Lockwood Hotel is located; and 20 Main St., the former Waterville Hardware property and future Arts Collaborative.

While the properties are owned by Colby College, the TIF district would have nothing to do with Colby and the college would not benefit from the city’s actions, according to city officials. The current TIF district expires in 15 years, and placing the properties in a new 30-year district extends the TIF period for the properties by 15 years.

Money from the new TIF, if it is approved, could be used for downtown needs, including paying back money the city is expected to borrow in the next year or so to redesign The Concourse, the municipal parking lot in the heart of downtown. TIF revenues also could be used for parking management needs downtown, including parking infrastructure or meters.

The TIF would allow the city to capture tax revenues from the buildings and dedicate the money to certain needs in the downtown area.

Councilor Claude Francke, D-Ward 6, was the lone dissenter Dec. 1 on the TIF items, saying he thought the city needed to more fully explain to the public what a TIF is.

Council Chairman Erik Thomas, D-Ward 7, who has had experience with several TIFs as chairman of the TIF Advisory Committee, said the idea for the TIF has been in the works for seven or eight years, and it would be a financial benefit to the city. He said the new TIF would increase the amount of revenue to the city from the three properties over a longer period of time.

In the past, the council removed other properties from the current downtown TIF district, including the former Lockwood Mill properties on Water Street and the properties where the Bill & Joan Alfond Main Street Commons and DePre family properties are located on Main Street.

Tax increment financing is a program that allows cities and towns to shield new value from developments from tax calculations to preserve the amount of state aid for education and revenue sharing the city receives from state government, saving residents money.

In other matters Tuesday, councilors are expected to hold a final vote on whether to amend a solar energy site lease with Hep Energy for the Runser property. The amendment would classify the solar facility as personal property, subject to a pilot tax payment in the future. It also would extend the development period for a year and allow the city to take the property back if the project were not completed. The city took a first vote Dec. 15 to approve the change.

The council is also expected to:

• Hold a final vote to revise conditions of the Contract Zoned District/Commercial-A Zone to allow for Half-Pints Daycare to open at 155 Kennedy Memorial Drive.

• Consider appointing April Chiriboga to the Planning Board now that Chairman Paul Lussier has resigned. Chiriboga’s term would expire in 2023.

• Consider referring to the Planning Board a request to revise the zoning ordinance to allow truck maintenance at the Airport Industrial District.

• Consider a resolution supporting the Federal Reserve Bank of Boston’s Working Communities Challenge Initiative and associated grant opportunities. The multiyear community planning initiative supports local teams working together to improve economic conditions for people in the North and South ends of the city and downtown. The city could be awarded up to $400,000 for the design and implementation phases of the grant.

Councilors are also expected to consider abatement of uncollectible personal property taxes, waiver of foreclosure of municipal tax liens and reconciliation of remaining 2013 and 2014 bond funds, as well as prior capital project accounts.

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