Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
South Berwick council schedules public hearing on TIF credit‑enhancement agreement program
Summary
The Town Council voted 5-0 to schedule a Feb. 25 public hearing on a proposed Credit Enhancement Agreement (CEA) program to be used within South Berwick's tax increment financing (TIF) districts. Planning staff described eligibility, fee and reimbursement guidelines and recommended limits aimed at limiting fiscal risk.
DeCarlo Brown, Director of Planning and Economic Development for South Berwick, presented a proposal on Feb. 11 to create a Credit Enhancement Agreement (CEA) program that would operate inside the town's tax increment financing (TIF) districts. The town council voted 5-0 to schedule a public hearing on the proposal for Feb. 25 at 6:30 p.m. at Town Hall, Third Floor.
Brown said the CEA would be a contract between the municipality and a developer or business that reimburses a portion of taxes generated by new, qualifying improvements for a limited period. "The CEA is a contract between the municipality and the developer or business," Brown told the council. He…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
