CANTON — A tax consultant spoke with selectmen Thursday evening about establishing a Tax-Increment Financing district for revenue from a $50 million wind turbine project being developed on Canton Mountain.
Mathew Eddy of Brunswick explained how a TIF works, local management of it and other details.
Tax-increment financing is a public financing method used as a subsidy for redevelopment, infrastructure and other community-improvement projects
The eight-turbine project received approval from the Maine Department of Environmental Protection in May 2014. At that time, it was expected to be operational in 2016, according to Canton Mountain Wind LLC, which is owned by Patriots Renewables LLC of Quincy, Mass.
The project is set to begin commercial operations in December, according to a Canton Mountain Wind news release.
“We’re looking at different options of how we can use (the project) money for the best benefit of the town,” Chairman Donald Hutchins said at Thursday night’s board meeting.
“The second big reason is taxes have gone down in the last two years, and this board is running out of tricks up their sleeve (to) either keep the taxes flat-funded or as low as possible,” he said.
In January, the board and Budget Committee met with Glen Holmes of Community Concepts Finance Corp., who presented information on how a tax-increment financing agreement could benefit the town.
Board of Selectmen Chairman Donald Hutchins said at that time that he thought selectmen and townspeople should study it before taking a vote at a town meeting. Eddy’s presentation was part of that effort.
In other business Thursday, Mia Purcell, Community Concepts manager of economic development for Oxford County, told selectmen about the Maine West Broadband Accessibility Project.
“Maine West is a collaboration of nonprofits and we’re looking at conservation, economic development, and education issues. One of the issues is trying to improve broadband for this area,” Purcell said.
When Hutchins told Purcell the town has 60 megabytes per second through an internet service provider, Purcell said the town was “very fortunate, because there are other places like Hartford, Sumner and Buckfield,” that do not have internet services of that speed.
Purcell also said the project would consider people’s other computer needs and where they could get the skills nearby to use computers.
“So it’s the usage as well as the infrastructure,” she said. Purcell requested that selectmen sign a letter of support and participation in the Maine West program, and selectmen agreed to do so.
In other news, Selectman Malcolm Ray said that over 30 children have signed up for the town’s T-ball teams.
“They’re coming out of the woodwork,” Selectman Rob Walker said.
Hutchins said the Budget Committee will meet at 6 p.m. Monday, March 27, at the highway garage on Jewett Hill Road to look at some equipment and trucks, “to get a better idea of what is needed when they’re working on the budget.”
Town of Canton sign at the town office.