Local businesses can get funding from the town to improve their buildings, thanks to a new program approved by the Town Council last week.
The program offers one-to-one matching funds up to $10,000 for façade improvements including painting, signage, awnings, window and door repairs or replacements, and storefront restorations. Payment will be made upon completion of the project.
The council allocated an initial $30,000 from funds accrued through the Transit-Oriented Tax Increment Financing, or TIF, district to support the Downtown Façade Grant program.
Applications for proposed projects will be approved on a first come, first served basis by a committee consisting of two business owners, one Town Council member, Assistant Town Manager Jennifer Janelle and Economic Development Director Denise Clavette. The applications will also be reviewed by Code Enforcement Officer Jenifer McCabe.
The grants will be available only to existing commercial businesses, not home-based business projects, said Clavette, and projects that were started before application will not be eligible for the program.
“This is reinvesting in the community with the TIF funds,” she said. “As more TIF monies become available, the council can allocate additional funds for the program.”
There will be a rolling deadline for the applications as funds become available.
Clavette reminded the council at the Aug. 22 meeting that the town keeps 100% of new tax money raised by increased property valuation in a TIF district. “This is strictly a locally funded program,” she said.
The Transit Oriented TIF district encompasses the Route 236 corridor from the Berwick town line to the Eliot town line, including a portion of the streets and roads directly accessible to Route 236.
The district, approved by the state in March, includes 802 acres of commercial and residential property with a total assessed value of $142.8 million. It is the second TIF district in town. The first, the Punkintown district located in the Central Maine Power corridor parallel to Route 236, was approved in 2011.
Maine cities and towns retain only 30% of local property tax dollars generated outside of TIF districts; the remainder goes to state, school and county funding. In a TIF district, all property taxes collected as a result of any increase in the value of property in that district stay with the town.
Councilor John James, after expressing support for the program, offered to be the council representative on the application committee. No action on it was taken at the meeting.
