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TIF committee recommends removing loan option; commissioners approve $28,112 grant to Patten Ambulance without CPI cap
Summary
The county's TIF (economic development) committee recommended several policy changes including removing loans from the application process; commissioners on July 23 approved a $28,112 grant to Patten Ambulance and removed a previously proposed three-year CPI restriction on the related contract.
The Penobscot County TIF (tax-increment financing) committee presented policy recommendations to commissioners on July 23 and asked the commission to consider changes to how TIF funds are administered. Among the committee's key recommendations were:
- Continue allowing TIF funds to be used countywide, including organized towns, consistent with counsel's legal opinion. - Remove loan products from the application process and focus on grants…
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