The Portland City Council last night voted 7-1 in favor of creating a Tax Increm
The Portland City Council last night voted 7-1 in favor of creating a Tax Increment Financing district that will allow Unum Corp. to keep 75 percent of the new taxes generated over the next 15 years by the company's proposed new office building at its Outer Congress Street complex. The TIF is worth $10 million to Unum, and after the 15 years the city would receive all of the new taxes on the expansion, estimated at $1 million annually. Details.
Tax increment financing -- Portland, Unum Corporation -- Portland
"The Portland City Council last night voted 7-1 in favor of creating a Tax Increm" (1994). Maine News Index – Portland Press Herald. 14346.
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