Ron Smith urges Bridgton select board to amend 2008 TIF to cover wastewater debt

Ron Smith, introduced to the board as the town's TIF consultant, told the Select Board on Aug. 5 that the town's 2008 TIF agreement lists $1,900,000 in eligible project costs but that subsequent infrastructure spending was far larger and has not been reflected in the TIF paperwork. "We only said originally there's only $1,900,000 worth of eligible project," Smith said, adding that the town has since incurred roughly $24,000,000 in debt related to development and wastewater work.

Smith said the town currently has "about $2,000,000" in captured TIF funds and proposed an amendment to the state-approved TIF agreement to expand the definition of eligible project costs so the TIF could pay portions of debt service now borne by the general fund. He noted the town currently subsidizes approximately $580,000 per year of wastewater-related debt and asked the board to endorse sending a draft amendment to the Department of Economic and Community Development for review.

The proposal is procedural rather than final: Smith framed the change as clarifying language and scope so the state will review and return an approved draft the town can present at a public hearing and then on the November referendum. Several board members signaled support for sending the draft to the state and for pursuing the referendum process, while also stressing the need for clear public education on what the amendment would do and would not do.