• 3,949.95 of those acres in Kibby-Route 27 tract that encompasses the project footprint and transmission line in Kibby, Skinner, Chain of Ponds and Jim Pond townships as well as the roadway and right of way associated with state Route 27 from Jim Pond Township to Coburn Gore Township.
• 75.58 acres in Wyman Township associated with transmission line, as well as the roadway and right of way associated with Route 27 that passes through the township.
• 52 acres in Township D and Township E associated with the roadway and right of way of Route 17, the Rangeley Lakes Scenic Byway.
Source: Franklin County Enterprise and Tax-Increment Financing Development Program
Pull-out:
Wind farm TIF plan, by the numbers:
• $455,952: Assessed value of the district as of March 31.
• $185.9 million: Value of taxable property in the unorganized territory of Franklin County as of April 1, 2007.
• $220 million: Estimated new assessed real and personal property value of wind farm project added over life of TIF to Franklin County's unorganized territory.
• $150 million: Amount TransCanada has agreed to guarantee as minimum assessed value.
Pull-out:
Wind farm costs
TransCanada's development costs for proposed wind farm:
• $180 million: Turbine cost
• $28 million: Roads
• $18 million: Transmission lines
• $44 million: Development costs
• $270 million: Total estimated company investment to develop project.
Source: Franklin County Enterprise and Tax-Increment Financing Development Program.
Pull-out:
Questions and answers:
• What is tax-increment financing? It is a development financing tool available to Maine counties and municipalities.
• Are TIFs commonly used? Maine first enacted TIF laws in 1977. Since then, more than 300 TIF districts have been established across the state. There are two TIF agreements for wind power development in Maine. One is an unorganized territory in Washington County and the other is in Mars Hill.
• How does a TIF work? A portion of property taxes generated by new business investment is sheltered to fund a locally adopted economic development program. The property taxes paid on existing valuation prior to new business investment continue to support general government operations.
• How is a TIF established? A TIF district is a specific geographic area identified for commercial growth and investment. A development program states the benefits and public purpose of the economic development projects to be undertaken. A financial plan details the funding mechanism to support the projects and establishes the duration of the TIF program (up to 30 years).
Source: Eaton Peabody Consulting Group, Maine Revenue Services
Posted By:Gregg at May 26, 2008 5:27 AM(Suggest Removal) The TVA gives a break in electric rates to local customers from their hydro power. Shouldn't Franklin County seek rate reduction for local customers instead of just taxing for themselves. The NIMBA (not in my back yard) people would be less resistant to wind power if they knew they were getting utility breaks. Give the added tax money to the government and they'll just find a way of spending it.
Posted By:ray at May 26, 2008 10:17 AM(Suggest Removal) Wind farms sound like a magic bullet to provide cheap electricity, but we must keep in mind that with wind farms conventional power plants must still be constructed to back them up for when there is not sufficient wind to power them. Also, having been around some in the Western part of U.S. they are quite noisy and not very aesthetic. They are certainly far from perfect. Solar, as it continuously improves, seems a more favorable alternative.
Also, why should the public finance them through TIFs, should not the investors take on the full responsibility. Will the investors share their benefits in the formof lower rates to the public?
ICAEL accreditation is the mark of quality for echocardiography services,
so we are pleased to have earned this distinction. It demonstrates that we
are providing a high quality service to our patients, said CMHVI Executive
Director Susan Horton.
a cardiologist who specializes in electrophysiology,
has been appointed to the Central Maine Medical Center Medical Staff. She is
practicing with Central Maine Heart Associates, a clinical department of
CMMC.
is the first Midwifery Service in Maine and only the second in New England to be recognized by the American College of Nurse-Midwives with its Golden “With Women for a Lifetime” Commendation.
My Clips | 
Printer
Friendly Version
Email
Story
iPod Friendly
Comments
