Caribou wanting into TIF agreement for dentist enlargement

Caribou-Council-Could-3 Caribou Metropolis Council is pictured below by means of livestream in the course of…

Caribou is seeking into a TIF arrangement with Gagnon’s Rental Properties that would help in the enlargement and relocation of Northern Maine Dental. Gagnon’s ideas to invest $900,000 in renovation charges as component of the effort and hard work, according to City Supervisor Dennis Marker. 

CARIBOU, Maine — Caribou is seeking into a TIF agreement with Gagnon’s Rental Properties that would help in the enlargement and relocation of Northern Maine Dental. Gagnon’s plans to shell out $900,000 in renovation costs as section of the work, in accordance to Metropolis Supervisor Dennis Marker. 

Marker stated Dr. Meagan Thompson recently acquired Northern Maine Dental from Dr. David Smith, who has owned and operated the business enterprise from his Main Road house because 1981. Thompson wishes to grow the small business, and is seeking the greater area by way of Gagnon’s.

She plans to provide an additional dentist into the area, raise staffing and providers, and provide a lot more than $640,000 of new gear into Caribou, according to information and facts submitted to the council. The new office environment would be located on 14 Obtain Highway.

Marker claimed that with Gagnon’s home being component of the city’s TIF district, the credit score improvement arrangement would assist him recoup some of the fees connected with renovating the constructing. 

The downtown TIF district only has 15 much more decades, Marker mentioned, which means that this is the most volume of time the settlement could be set. He additional that with the town adopting by ordinance a limit of 80 per cent of cash for every year for TIF agreements, the council would have to determine a percentage that does not go over and above this amount. 

As drafted, the arrangement is set to supply the optimum benefit attainable. But he advised councilors on May well 3 that they could talk about more negotiations in a private, executive session if needed. 

Mayor Jody Smith questioned if councilors experienced any issues, and right after hearing none he reiterated that this is a tough draft and a 1st examine, and that the council will revisit the agreement in a lot more detail at upcoming meetings.

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