Waterville City Council to consider downtown tax increment financing district

WATERVILLE — Members of the public will have the opportunity Tuesday night to ask questions about or comment on a proposed tax increment financing district for downtown Waterville during a public hearing of the City Council.

The hearing to discuss the City Center TIF and related development plan is scheduled to begin at 6:45 p.m. Those wanting to take part in the hearing or the council meeting following it must contact City Clerk Patti Dubois by 5 p.m. Tuesday to receive Zoom log in credentials.

Those wanting to view only the meeting can do so via the livestream on the city’s Facebook page or by clicking on a link on the city’s website — www.waterville-me.gov.

A copy of the proposed TIF will be available at Dubois’ office at City Hall prior to the public hearing, and may be viewed there during normal business hours, according to the council agenda.

The council several times has postponed voting on the proposed TIF as the city has worked out details of the plan, which calls for removing three Colby College properties downtown from the current downtown tax increment financing district and placing them in a new TIF district.

On Dec. 1, the council voted 6-1 to amend the downtown TIF district and related development program by removing the three Colby properties from the district and placing them into a new district.

The city has been working to identify how revenue from a new TIF district may be used, and to ensure that when the TIF request is sent to the state, the city has everything in order.

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

The properties in question are at 93 Main St., the site of the future Paul J. Schupf Art Center; 9 Main St., site of the Lockwood Hotel; and 20 Main St., the former Waterville Hardware property and future Arts Collaborative.

Colby College owns the properties, but the TIF district would have nothing to do with Colby, which would not benefit from the change, according to city officials.

Money generated from the new TIF may be used for downtown needs, as the city captures tax revenue from the buildings and dedicates the money for that purpose.

In other matters Tuesday, councilors are expected to consider supporting a proposed amendment to the Kennebec River Management plan proposed by the Maine Department of Marine Resources. The council voted recently to delay action on the matter so it could glean more information about the amendment.

Councilors are also expected to consider establishing a city manager evaluation committee; supporting an extended producer responsibility for packaging law; approving changes to the personnel ordinance; and awarding contracts for two single-axle trucks and a sidewalk tractor for the Public Works Department, traffic paint and reflective beads.