HomeMy WebLinkAbout2008-02-11 08-092 ORDERCOUNCIL AMON
Item No, 08 092
Date: February 11, 2008 -
Item/Subject: ORDER, Designating Penjajawoc Marsh/eangor Mall Area Management Fund Municipal
Development and Tax Increment Financing District #1 and Adopting a Development
Program for the District
Responsible DepartrI Community & Emnomic Development
This Order would adopt a Development Program and a Penjajawoc March/Bangor Mall Area Management
Fund Municipal Development and Tax Increment Financing District #1 to take advantage of new
development and investment in the Mall Area.
The PenjajawprJMall Area Task Force Report accepted by the City Council by passage of Council Order
05-170 on May 23, 2005 recommended the establishment of a Conservation Fund to provide additional
protection to the water quality and habitat values assxlated with the Marsh/Stream through the
purchase of property and/or conservation easements within the study area and the implementation of
water quality improvement projects designed to address degradation related to urban development in the
watershed. The Task Force recommended that a conservation fund b i established through a Tax
Increment Financing Program established for future commercial development within the study area. A5
rrew commercial development occurs, the City would set aside 25% of the new taxes from such
development for a Period of 10 years with the reaching funds to be used for the purchase of property or
conservation easements and water quality improvement efforts. The study area generally induced the
northwest aide of Stillwater Ave, from the Parkade Project site m the Ottredge Road In the area of the
Penjajawoc Marsh.
�T Department Head
Recommend approval as does Business and Ecmwmic Development 4L"-6,266;W�6
?06QC H -£141R— i6- R-EQU(9,0 City Manager
Budget ARpmval:
Finance Director
Legal Approval:
74, O Solicitor
Introduced for
Piamage
First Re6d[AD .page of
Refsrtar
08 092
Asugvl to Cowcilor Gratvick Febvuary 11, 2008
4 CITY OF BANGOR
o.c
(TITLE.) ORDER, Designating Penjajawot Marsh/Bangor Mall Area Management
Fund Municipal Development and Tax Increment Financing District #1
and Adopting a Development Program for the District
WHEREAS, the CM of Bangor (the "Dty") Is authorized, pursuant to Chapter 206 of Tie 3 A
of the Maine Revised Statutes, as amended, to designate a specified area within
the City as the Penjajawoc Marsh/Bangor Mall Area Management Fund Municipal
Development and Tax Increment Fnancing District #1(me "District") and to adopt
a Development Program for the District; and
WHEREAS, there is a need for economic development in the Qty of Bangor, in the surrounding
region, and in the State of Maine; and
WHEREAS, there is a need to improve and broaden the tax base of the City of Bangor and to
Improve the general economy of the Bangor and the surrounding region; and
WHEREAS, implementation of the Development Program will help to improve and broaden the
tax base ant improve the economy of the City of Bangor and the region; and
WHEREAS, there Is a need to implement economic development Initiatives in the Bangor Mail
Area and Pergajawoc Marsh area as well as the downtown area of Bangor through
the establishment of the District in accordance With the provision of Chapter 206 of
Title 30-A of the Maine Revised Statutes, as amended; and
WHEREAS, the City desires to designate the District and W adopt the Development Program;
and
WHEREAS, it is expected that the Maine Department of Economic and Community
Development (the "Department') will approve the designation of the District and
the adoption of the Development Program for the Distinct;
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
Section L The Ory of Bangor hereby designates the Penjajawcc Marsh/Bangor Mall Area
Management Fund Munidpal Development and Tax Increment Financing District #1 and adopts
the Development Program for such District, such designation and adoption to be pursuant to the
following flndings, terms, and provisions
Section 2. The City Council hereby finds and demur ines that;
a.. At least twenty-five percent (25%), by area, of the real property wtlhin the Disthd,
as hereinafter designated, is suitable for commercial uses as defined in 30-A M.R.S.A. 4 5223; and
aq nn2:
b. The total area of the Disbfct does not exceed two percent (2%) of the total
acreage of dre City, and the total area of all existing and proposetl development tax increment
financing d'aficts vnthm the City except Por the existing Bangor Dovvntmwn District does not
exceed five percent (5%) of the total acreage of Me Cry; and
C. The original assessed value of the District plus Me odgmal assessed value of all
existing tax increment financing districts within Bre City does had exceed five percent (5%) of the
total value of taxable property within the City as of April 1, 2007; and
d. The aggregate original principal amount of municipal Indebtedness financed by the
Proceeds from existing tax increment financiog districts within Penobsrot County does not exceed
$50,000,000; and
e. The designation of the District and pursuit of die Development Program will make
a contribution to the ecmamic growth and well being of the Cly of Bangor and the surrounding
region, and will contribute M the betterment of die health, vrelfare and safety of the inhabitants
of the City of Bangor, including a broadened and improved tax base and economic stimulus, and
fherefare condi a good and valid public purpose.
Section 3. Pursuant to the provisions of 3PA M.R.S.A. § 5227, Me percentage of
increased assessed value M be retained as captured assessed value in accordance with the
Development Proc am is hereby established as set forth in the Development Program.
Secffign � The City Manager, or his duty appointed representative, is hereby auMonzed,
empowered and directetl to submit the proposed designation of the District and the proposetl
Development Program for the District M the State of Maine Department of Economic and
Community Development far review and approval pursuant M the requirements of 30�A MRSA.
§ 5126.
Section 5. The foregoing designation of the District and one adoption of the
Devdopment Program for ties DisMct shall automatically became final and shall take full force and
effect upon receipt by the City of approval of the designation of the District and adoption of des
Development Program by the Department of Economic and Community Development, without
requirements of fuller action by the City, the City Caunrll, or any other party.
Section & The City Manager, or his duty appointed representative, B hereby auMonzed
and empowered, at his discretion, ham time M done, to make such revisions M the Development
Program far des District as the City Council, or he duly appointed representative, dcem reasonably
necessary or convenient in order ro facilitate the prows for review and approval of the District by
the Department of Economic and Community Development, or for any other reason, m long as
moth revisions are not Inconsistent with MB order or the basic structure and Intent of the
Development Program. _
IN CIn C men
February 11. 2008
Notion Mack and S=csubst to
Open the Public Hearing
Public Hearing Opened
iLry Q inhy of the Bangor Land
Pr t. George Elliott of
The Hall Hersh Co®iseaion and
Bpb Guerrette Of Cbe Planning
Mnrd'spate in favor of this
Order
Motion Made and Seconded
to Uses Public Hearing
Public Hearing Closed
Estion Mede and Succeeded
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