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Board members flag $12M infrastructure need and TIF timing as hurdles for Dorchester harbor project
Summary
Board members said preliminary estimates show about $12 million to deliver phase‑1 infrastructure; TIF proceeds (estimated roughly $24 million) were discussed but would not be available until after the hotel operates, creating a potential funding gap and need to bridge costs.
Dorchester County board members and development partners spent significant time Tuesday outlining the infrastructure costs and financing constraints tied to the proposed harbor development.
Speaker 1 said the structure of the tax-increment financing (TIF) plan means public TIF monies likely will not be available until after the hotel is up and operating: “None of that TIF money will be available until after the hotel is up and operating.” Meeting participants discussed an estimated TIF increment of about $24,000,000…
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