Kingfield TIF fund use approved
KINGFIELD -- The selectmen held a Special Town meeting last Monday, Aug. 3. After electing Doug Marble as meeting moderator, question two was asked of the voters —whether they wanted to appropriate $51,350 for general improvements of Commercial Street using Tax Increment Financing and Development District Funds.
The article said that $17,350 was needed for infrastructure improvements and $34,000 for paving costs.
Although the work had already been completed, Selectman Neal McCurdy said that if they spend the money out of the highway account, they wouldn't have money to do other paving projects in town.
"They (Department of Economic and Community Development) authorized us to take the money because Commercial Street was already in the TIF District so they authorized us get reimbursed," McCurdy said.
Resident Jack McKee asked if all the money on the project was spent.
Administrative Assistant Doug Marble explained that the minimum money was paid so that the project could start before the costs of tar went up significantly.
Moody addressed the issue of what was a legal TIF expenditure.
"Reimbursement of money spent is not an authorized TIF expenditure which is why we called DECD to get an opinion on this before we authorized any money to be spent on the project," board chairman Heather Moody said. "Basically we're not reimbursing the town for work that's already done. The Town basically fronted the money for the TIF until we could get a town meeting up. " With additional discussion, the voters approved the appropriation by a vote of 16-1.











