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Select Board approves $162,930 reimbursement from West Peterborough TIF for local maintenance
Summary
The Peterborough Select Board voted unanimously Jan. 21 to reimburse $162,930 from the West Peterborough District Expendable Trust Fund to cover maintenance of roads, parks and streetlights within the West Peterborough TIF; board members said the allocations were based on proportional measures such as road miles and light-post counts.
The Peterborough Select Board voted unanimously on Jan. 21 to approve a $162,930 expenditure from the West Peterborough District Expendable Trust Fund to reimburse the town for maintenance of infrastructure, parks and streetlights inside the West Peterborough Tax Increment Financing (TIF) district. Lilli Gilligan told the board staff had updated the figures that allocate costs to the TIF and that the percentages were based on the quantity of assets in the district — for example, road miles, number of light posts and park acreage.
Chair Tyler Ward moved to approve the expenditure and Bill Taylor seconded; the minutes record the outcome as "all in favor" with no individual tallies listed. According to the board discussion, the town has historically used the West Peterborough TIF to offset these maintenance expenses, and the reimbursement will be recorded as general fund revenue.
Why it matters: using expendable trust funds tied to a TIF keeps district-specific infrastructure costs aligned with revenues the district generates rather than charging the broader tax base. Board members did not identify any conditions or amendments tied to the reimbursement at the meeting.
The Select Board approved the motion without further public debate and moved on to other agenda items.
