China Town Manager Rebecca Hapgood announced March 24 that China’s revised Tax Increment Financing (TIF) plan has been approved by the Maine Department of Economic and Community Development.
China voters approved the revision, officially named the Third Revision, Central Maine Power/China Lake Tax Increment Financing District and Development Program, on Nov. 5, 2024.
The 57-page document summarizes the history of China’s TIF program and lists projects completed or ongoing. Some pages are almost blank, like the one that says “[This page has been intentionally left blank]” and the ones that tell the reader what is on the next page.
Financial information is included. Money for TIF projects comes from taxes on Central Maine Power Company’s line running north-south through China and on the substation in South China. The amount each year depends on the tax rate and the valuation of the property.
The last page of the TIF document summarizes completed, deleted and ongoing projects. The major completed project is the causeway project at the head of China Lake, near the boat landing. Done in two phases, it cost $1,250,000.
Currently, TIF funds are helping pay for improvements at the South China boat landing. Ongoing projects include funding for broadband, trails, fishways and dams, marketing China as a business location and other economic development and environmental projects.
A proposed new project is phase three of the causeway project. Hapgood said it will focus on the west end of the causeway, near Church Park. An engineer’s plan is needed; Hapgood expects improvements will include an extended sidewalk and one or more docks for fishing and swimming. Estimated cost in the TIF plan is $225,000.
Voters have deleted two proposed uses for TIF money that were almost never used: a revolving loan program for businesses and a job training program.
China’s original 2015 TIF program ended June 30, 2035. In 2017, voters extended it to June 30, 2045.
The Third TIF plan is on the Town of China website, with the TIF committee, under the Boards and Committees heading.
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by Mary Grow
