Carrabassett Valley voters listen Wednesday during the annual town meeting at the Sugarloaf Outdoor Center. By a vote of 109-46, they accepted 37 acres from Sugarloaf resort and authorized a bond of up to $6 million to build a nine-hole golf course on it. Town of Carrabassett Valley photo

CARRABASSETT VALLEY — Voters at the annual town meeting Wednesday accepted 37 acres from Sugarloaf resort and authorized a bond of up to $6 million to build a nine-hole golf course on it, Town Manager Garrett Corbin said Thursday. The vote was 109-46.

The course is anticipated to provide enhanced economic development, he said previously.

Along with the course design, the Planning Board has also issued a permit for the integrated snowmaking pond facilities that Sugarloaf would pay for at an amount comparable to the town’s contribution to developing the course, Corbin wrote in a message to voters.

The article authorized the Select Board to obtain a 20-year general obligation bond for up to $6 million. The proposed term is for 20 years and an interest rate starting at 3.43%. Interest is estimated at $2.96 million.

The estimated annual debt service of $448,221, if approved, would result in an estimated property tax increase of up to to $4.97 per $1,000 of property valuation.

Voters also approved a $3.6 million budget, a nearly 13% increase from last year, Corbin said. Revenue is estimated at $773, 214.

A preliminary estimate for the tax rate is about $4.97 per $1,000 of property value, including the golf course.

Other articles approved included adopting a West Mountain Tax Increment Financing District and program.

“The board is interested in creating a TIF district in an effort to shelter these new values from (Franklin County) taxation, thereby helping to protect local property taxes from increases to county taxes,” Corbin previously wrote.

Over the 30 years, it’s anticipated to save Carrabassett Valley nearly the equivalent of a full year of the county assessment, which is currently $1.6 million.

The proposed district includes development underway off West Mountain Road and down to the s0-called Boneyard on state Route 27, which is adjacent to the north and south branches of the Carrabassett River. It would be about 262 acres.

The town will develop a program that will go before voters at the annual town meeting in March 2026, Corbin said. Among the projects up for consideration are town facilities, trail improvement and housing.

The TIF will must go to the Maine Department of Economic and Community Development for approval. The the percentage of new taxes to be captured each year over the 30-year term is 100%, according to Corbin.

Voters also adopted a Residential Sprinkler Ordinance that will require a sprinkler system for any new construction of one- and two-family homes on Sugarloaf Mountain served by the Sugarloaf Water Association, he said.

Other items approved are a Town Office redesign study, pickleball facility engineering study, mountain bike trail capital reserve and school facility improvement capital reserve.

Selectmen Robert “Bob” Luce and Lloyd Cutler, School Committee members Stephen Arner and Erin Demshar, and Sanitary District Trustees James Benoit and Brian Demshar were all reelected.

On Monday, selectmen appointed Scott Stoutamyer to serve as district trustee to finish Robert Briggs’ term, Corbin said. The term expires in March 2026.

About 155 residents attended the meeting at the Sugarloaf Outdoor Center. It lasted about two-and-half hours, one of the longest on record, Corbin said.