SEDC asks Skowhegan to consider taking ownership of Renaissance Building amid operating deficit

Bryan Belliveau of the Skowhegan Economic Development Corporation told the Selectboard on March 10 that SEDC’s board has asked the town to consider acquiring the Renaissance Building “by some means.” He said the building, currently owned by SEDC as a separate tax entity, is running roughly a $40,000 annual deficit and is difficult to reconfigure for more profitable office layouts.

The request was presented as an initial notification rather than a formal proposal. Selectboard members pressed for more detailed financial information, including a profit-and-loss statement and other supporting documents, and asked that the item be scheduled for a future meeting with those materials so the town can consider options such as acquisition, private sale, or sale to abutters.

Belliveau said the Renaissance Building is important to the neighborhood and noted prior public reaction when downtown public restrooms were closed, underscoring local interest in downtown facilities. The board did not take any action at the March 10 meeting; members emphasized the need for clear fiscal data before weighing acquisition or other paths.

The discussion also came amid SEDC staffing and budget adjustments reported at the meeting: Belliveau outlined a restructured Economic Development/municipal building office with an eliminated administrative position and reductions in electricity and general maintenance costs, while municipal building reserves were shown reduced from about $129,000 to $75,500. Board members flagged the need to see full P&L and operating projections before any commitment.

The board requested SEDC return with detailed financial documents and options for consideration at a future Selectboard meeting.