[HISTORY: Adopted by the Town Council of the Town of Kittery 12-13-2010 by Ord. No.
10-03. Amendments noted where applicable.]
[Amended 3-9-2020 by Ord. No. 20-02]
Municipal development and tax increment financing district(s)
are hereby designated, to be known as District No. 3 (Mixed Use Neighborhood),
and herewith is adopted the development program for such districts;
such designations and adoptions to be pursuant to the following findings,
terms and provisions. District No. 1 and District No. 2 are hereby
terminated and dissolved.
The Town Council hereby finds and determines that:
B.
The total area of the individual districts does not exceed 2% of
the total acreage of the Town, and the total area of all three districts
within the Town does not exceed 5% of the total acreage of the Town;
C.
The original assessed value of all existing and proposed tax increment
financing districts does not exceed 5% of the total value of equalized
taxable property within the Town as of March 31, 2010; and
D.
The designation of the districts and pursuit of the development program
will make a contribution to the economic growth and well-being of
the Town and the surrounding region and will contribute to the betterment
of the health, welfare and safety of the inhabitants of the Town,
including a broadened and improved tax base and economic stimulus,
and therefore constitutes a good and valid public purpose.
Pursuant to the provisions of Title 30-A M.R.S. § 5227,
the percentage of increased assessed value to be retained as captured
assessed value in accordance with the development program is hereby
established as set forth in the development program.
[Amended 3-9-2020 by Ord. No. 20-02]
The Town Manager is hereby authorized, empowered and directed
to submit the proposed designation of the districts and the proposed
development program for the districts to the State of Maine Department
of Economic and Community Development for review and approval pursuant
to the requirements of Title 30-A M.R.S. § 5226. The Town
Manager is hereby authorized, empowered and directed to complete any
actions necessary to dissolve Districts No. 1 and No. 2.
[Amended 3-9-2020 by Ord. No. 20-02]
The foregoing designation of the district(s) and the adoption
of the development program for the districts automatically becomes
final and takes full force and effect upon receipt by the Town of
approval of the designation of the districts and adoption of the development
program by the State of Maine Department of Economic and Community
Development, without requirement of further action by the Town, the
Town Council or any other party.
The Town Manager is hereby authorized and empowered, as may
be necessary from time to time, to make such revisions to the development
program for the districts as the Town Council deems reasonably necessary
or convenient in order to facilitate the process for review and approval
of the districts by the State of Maine Department of Economic and
Community Development, or for any other reason, so long as such revisions
are not inconsistent with this chapter or the basic structure and
intent of the development program.
A.
Credit enhancement agreement(s) that may be entered into by the Town
and one or more developers; description of the terms and conditions
of any such agreement(s), contract(s) and obligation(s) to be entered
into by the Town is set forth in the Maine DECD model agreement as
part of the application to the state. Any such agreement is to be
in the form approved by the Town Council with any changes thereto
as determined appropriate by the Town Council after public hearing.
B.
Any credit enhancement agreement is to set forth the obligations
of the Town to return to the applicable developer each year during
the term of any such agreement the applicable tax increment (developer's
share) as described in the model agreement.
C.
Any obligation of the Town to make such payments is to be a limited
obligation payable solely from that portion of the tax increment constituting
the tax increment (developer's share) actually paid by the applicable
developer as property tax and does not constitute a general debt or
obligation on the part of the Town or a general obligation or charge
against or pledge of the faith and credit or taxing power of the Town.
[Amended 3-9-2020 by Ord. No. 20-02]
With establishment of the district(s) and implementation of
the development program, no tax revenues generated for the development
program may be used for municipal improvements, until and unless private
development within the district(s) is approved, warranting the need
for such improvements. An exception to that criterion is an amount
from each district, if available, for the purpose of funding economic
development administration.