The City seeks an amendment to the Rte 111-Mill Redevelopment Tax Increment Financing District (together with subsequent amendments thereto, the “District”) and Development Program (the “Amendment” and, together with subsequent amendments thereto, the “Development Program”). This Amendment removes tax map parcel 40-56 from the District—the Saco-Lowell Building and property—in order to make the area available to designate a new Municipal Development and Tax Increment Financing District, to be known as the Saco-Lowell Municipal Development and Tax Increment Financing District. This Amendment shall be effective on July 1, 2021, the start date of the Saco-Lowell Municipal Development and Tax Increment Financing District. This Amendment converts the District to a transit-oriented TIF District. Finally, this Amendment also adds three new project costs to the list of approved projects the City may undertake with TIF revenues.
The City of Biddeford will hold a public hearing regarding this amendment at its virtual City Council Meeting on December 15, 2020 at 6:00 p.m. Click here for information on how to participate in the meeting.