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Lincoln selectmen begin process to consider TIF district to spur development on Campus World property
Summary
Selectmen opened discussion of a proposed tax-increment financing (TIF) district for three parcels including the Campus World site to fund infrastructure for affordable housing; members asked for fact sheets, community hearings and further analysis of bond risks before moving ahead.
The Board of Selectmen discussed creating a tax-increment financing (TIF) district covering three parcels — the Campus World property (two parcels) and an adjacent White Mountain Central Railroad parcel — as a way to fund roads, bridge work and utility extensions to enable housing development.
The Chair described how a TIF would freeze the current tax baseline (estimated at roughly $450,000 across the parcels) and divert new tax increments from development to repay bonds for infrastructure over an agreed period (the board discussed a 15-year example). He said the town hopes to recover the $4 million it paid for land plus an estimated $2 million in interest through land sales and tax increments as parcels develop.
Several selectmen raised concerns about the town borrowing for infrastructure that developers ultimately would rely on, the potential duration before reimbursement, and the contingency if a developer fails to complete projects. Members asked staff to prepare fact sheets, consult comparable towns, schedule public hearings and draft warrant language for adopting the enabling RSA and creating the district. The board agreed to begin public outreach and place the RSA adoption and TIF question on a future agenda and warrant for voter consideration.
