Cumberland’s Town Council voted unanimously Nov. 24 to approve a credit enhancement agreement (CEA) designed to bring Lucas Tree, operating under Addison Capital, to 275 U.S. Route 1.

Town staff and the town manager laid out the financial model during a public hearing: the agreement would take effect at the start of the town’s extended TIF district on July 1, 2027, and run for 20 years through June 30, 2047. Staff said the model reimburses the company from property-tax revenues captured in the TIF district, using a formula tied to Lucas Tree’s excise-tax payments; staff described the calculation as “$5,000 for every $50,000 of excise tax” and said the maximum annual payment to the company under the CEA is $50,000.

“The maximum credit enhancement agreement payment to the company is $50,000 in each year under this model,” a staff presenter said while running through the town’s projections. Staff also presented a conservative 20-year projection showing cumulative town benefits alongside the stable CEA payments.

Arthur Batson Jr., representing the Batson family and Lucas Tree, told the council the move consolidates corporate operations and would have a modest staffing impact: “This has give us an opportunity for us because we have operations in Portland and in Cumberland…we see it as a real benefit for us,” he said.

Councilors pressed staff on mechanics and precedent. One councilor asked whether the excise-tax–based reimbursement was modeled elsewhere; staff said the structure is similar to a model used in Falmouth but is new for Cumberland. Staff explained excise taxes are generated when vehicles (including equipment trucks) are registered in the town and noted that consolidating Lucas Tree’s apportioned fleet registration in Cumberland would increase the town’s excise-tax receipts.

Mayor and council members welcomed the company; following the public comment and a short council discussion the council voted to approve the CEA.

What happens next: the CEA becomes effective with the TIF extension on July 1, 2027, and staff said they will work with the company and the town attorney on final agreement language and implementation steps.

Key detail: staff described the CEA payment structure as a formula linked to excise-tax payments, capped at $50,000 per year; the agreement covers reimbursement of property taxes captured within the TIF district for improvements tied to the relocation and new building.