Title

"News" piece on the city of Portland's recent Tax Increment Financing (TIF) agre

Authors

Lee Burnett

Source

Maine Times

Date

10-11-2001

Pages

5

Abstract

"News" piece on the city of Portland's recent Tax Increment Financing (TIF) agreement with Commtel, a Winthrop-based telephone company and Internet service provider that is opening a new facility in downtown Portland. The TIF agreement for Commtel divides almost evenly $9.8 million in taxes: Portland gets $5.5 million, and Commtel gets to keep $4.3 million. But because of a "shelter" agreement with the state that prevents the city from losing state aid because of rising property values, Portland gets $8.7 million. If Portland had denied Commtel's TIF, it would have received only $6.5 million in taxes.

Subjects

CommTel, High technology, Tax increment financing

Full text is not available here. Please contact the Library for a copy of the article.

Share

COinS