FARMINGTON — There is $365,000 in the Franklin County tax increment financing account that will be up for grabs once an amendment to the county’s development plan is finalized.
The county agreed to add new activities to the plan earlier this year after the state changed the rules on eligible activities that can be funded by TIF funds.
The amendment will expand the existing development program to recreational trails, training for residents of the unorganized territories including higher education or certificate programs, high-speed Internet access for UT residents, and an emergency-communications study. The amendment would also include modifying and clarifying use of TIF funds for emergency equipment and communications.
The county received a $957,168 check for its share of assessed taxes for TransCanada’s Kibby wind project for 2010-11, Treasurer Karen Robinson told Franklin County commissioners on Tuesday.
The TIF agreement will capture 75 percent of the taxes raised by the originally estimated $270 million, wind-energy project for the first 10 years of operation, then 50 percent for the 10 years after that. Sixty percent of those captured revenues, capped at $8.9 million over the 20 years, will be returned to the developer. The other 40 percent of captured revenues, capped at $4 million, would be used to fund projects in the unorganized territories.
The remaining taxes assessed the company would go to the state.
Greater Franklin Development Corp. administers the TIF program for the county and will oversee the applications that will be submitted for projects fitting the development plan.
As required by the TIF agreement approved in 2008 between TransCanada and Franklin County, the county returned 60 percent or $574,381 of the assessed taxes to TransCanada, Robinson told commissioners. The county keeps 40 percent of the money from the assessment, which will be used in delegated areas of its development plan to boost economic development in unorganized territories in Franklin County.
Of the county’s share, Robinson said $32,500 was used to pay 50 percent of the county’s dues to Greater Franklin Development Corp. and Androscoggin Valley Council of Governments. The county previously paid $60,000 to Greater Franklin and $5,000 to AVCOG annually out of its regular budget. Now half of those costs are coming out of the TIF money for the UT’s share.
Greater Franklin Executive Director Alison Hagerstrom told commissioners Tuesday that the corporation plans to submit a grant to ConnectME Authority in January 2011 for high speed Internet services for underserved areas. It is a matching grant.
Among the targeted areas would be Freeman Township, Madrid Township and possibly other SAD 58 areas in northern Franklin County, and Carthage in southern Franklin County, she said.
At least 150 customers would need to sign on to bring the service in, Hagerstrom said. The grant would be used to buy communications equipment.
Hagerstrom said existing Internet providers such as FairPoint and TDS do have plans for upgrades in the county.
Greater Franklin is looking at wireless technology, maps, and Axiom Technologies LLC, which has done a good job getting high-speed Internet into rural Washington County, Hagerstrom said.
“We need to show support from the county,” she told commissioners.
Commission Chairman Gary McGrane of Jay asked her to draft a letter of support to be considered at the Tuesday, Nov. 16, meeting.
Hagerstrom said they plan to continue to survey residents to see if they have an interest in upgrading their service. Even if someone has dial-up, it is considered an underserved area, she said.
dperry@sunjournal.com
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