May 16, 2008
Wind farm sees TIF draft
Franklin County commissioners have presented a draft of a new TIF district for TransCanada's proposed 44-turbine wind farm in Kibby and Skinner townships.
Based on initial estimates of a $220 million property assessment on the wind farm, the TIF would send $9.3 million in new tax revenue to the state's unorganized territory fund and $8.9 million to TransCanada to invest in the project, according to the Sun Journal. The proposed TIF would also send $4 million to the county to use on economic development in the unorganized territories over the next 20 years, the paper said.
The next steps are a public hearing, a vote by the county commissioners and approval by the state before the plan becomes final.
Based on initial estimates of a $220 million property assessment on the wind farm, the TIF would send $9.3 million in new tax revenue to the state's unorganized territory fund and $8.9 million to TransCanada to invest in the project, according to the Sun Journal. The proposed TIF would also send $4 million to the county to use on economic development in the unorganized territories over the next 20 years, the paper said.
The next steps are a public hearing, a vote by the county commissioners and approval by the state before the plan becomes final.
Mainebiz web partners
Most Recent
Most Recent
Comments