OXFORD – Enterprise Maine announced Wednesday that Oxford was awarded a $235,000 grant to use for development in the proposed business park.
The grant came from the Maine Municipal Investment Trust Fund, according to Brett Doney, EM’s chief executive officer.
The money was part of two bonds totaling $10.3 million approved statewide by voters this year. It is being administered by the state Department of Economic and Community Development.
Business park plans call for it to be divided into four lots, each ranging in size from eight to 10 acres. The lots are on land between Number 6 Road and Route 26.
Doney said the grant requires a match.
Its acceptance also is contingent on the town entering a tax increment financing agreement with Western Maine Development, an EM subsidiary.
WMD will provide about $200,000 of the match, according to Doney. He said he expects the town to provide the rest in the form of improvements to Number 6 Road.
Oxford Town Manager Michael Huston said the town already has done about $30,000 of work on the worst parts of the road.
“Now that we know we have the grant we will sit down with MDOT and our Planning Board and make sure we are all on the right schedule,” Huston said. “We are going to want to rebuild it so it will be able to take the heavier traffic load.”
He said other improvements in the area are also needed since there is town water, but no sewer.
“A TIF will also be needed to help to help them (WMD) recover some of their costs,” Huston said. “It’s great to have this grant approved. It’s good for town of Oxford. Now we need to follow through on commitments we made.”
Doney said the grant money will be used to install three-phase power, build the entranceway to the park and improve the intersection of Number 6 Road and Route 26.
“Pending the approval of the match by the town, we can begin construction this spring,” Doney said.
Doney said two firms have expressed interest in park sites already. He said the park could bring 300 jobs to the area.
jsmedley@sunjournal.com
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