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Council hears $4.3 million downtown TIF spending plan and Downtown Bangor Partnership’s request to raise the special assessment
Summary
City staff and the Downtown Bangor Partnership outlined a proposed five‑year downtown TIF spending plan totaling about $4.3 million and a companion special‑assessment budget, and the partnership presented a recommended 7¢ per $1,000 assessment increase to fund marketing, staff and ambassador services.
City finance staff and representatives of the Downtown Bangor Partnership presented the council with proposed uses of downtown Tax Increment Financing (TIF) revenues and a companion special assessment district budget at the May 7 budget workshop.
Finance staff said the downtown TIF fund is being proposed to cover roughly $4,300,000 of planning‑period expenses, including debt service tied to the Columbia Street parking deck and arena, demolition costs for the old police building on Court Street and multiyear projects such as a $2,000,000 village partnership reserve. The TIF plan also lists downtown sidewalks, pedestrian improvements, bulkhead redevelopment, retaining wall work along the waterfront, generator and camera installations, lighting…
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