Maine Street Station costs up
Increased costs for fuel and asphalt have pushed up the price of a downtown development project in Brunswick, forcing the town to find financing to cover it.
The total projected cost of the Maine Street Station project, which includes an inn, mixed use space and a train station, has increased $868,000 to $3.1 million, in part due to the increase in the cost of gas, paving and street lights, according to The Times Record in Brunswick. A new state requirement on water run-off and a recently added parking lot also has added to the cost, according to the paper. The town council on Monday voted to increase its bond financing or establish a tax increment financing agreement to pay for the excess. In its joint agreement with developer JHR Development, Brunswick agreed to pay all infrastructure costs and approved up to a $2 million bond.
JHR was scheduled to break ground on the project yesterday, but now plans to break ground Nov. 1, according to the paper.
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