KENNEBUNK – Voters on Wednesday night designated the Lower Village as a tax increment finance district, a designation that allows the town to capture property tax revenues from new development and reinvest those funds in improvements.

Wayne Berry, chairman of Kennebunk’s Board of Selectmen, said the revenues could be used in the Lower Village to rebuild sidewalks, install an underground electrical system, create more parking spaces and build a new visitor center.

Merchants hope the improvements will attract visitors from Dock Square in Kennebunkport.

The revenues from the TIF district can be collected retroactive to April 1, 2009. About 60 people attended the special town meeting.

Only a few people spoke against the proposal.

 


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