TOPSHAM

The Board of Selectmen is scheduled to consider at its meeting tonight designating increased value of the town’s Municipal Tax Increment Financing District to fund economic development.

The meeting will start at 7 p.m. at the municipal building at 100 Main St.

According to this agenda item description submitted by Town Manager Cornell Knight, tax revenue derived from the increased valuation in this TIF district (254 acres) is $8,435, which would be placed in a reserve account for economic development purposes. In most cases, Knight notes the anticipated tax rate impact for the average and median taxpayer would be a slight decrease in taxes. Possible projects funded by this money could include extension of water and sewer, creation of access roads and traffic improvements, sidewalks and other amenities, and development of a business park.

According to the state’s Department of Economic and Community Development, the Municipal TIF program “allows eligible entities to capture and leverage new property taxes within a district and invest part or all of those taxes into locallyapproved activities and projects.” The purpose of the program is to provide new employment opportunities, improve and broaden the tax base, and improve the general economy of the state.

Selectmen sill also hear from Mark Parlin from the Maine Department of Transportation about the department’s plan to repair the Cathance River Bridge. After a detailed inspection, MDOT engineers have determined the bridge is not as bad as thought, but MDOT plans to repair the south abutment which would require the bridge to be closed 7 to 10 days. Parlin said in February the bridge was built in 1920 and is a concrete T-beam superstructure with a 55-foot span.

Selectmen will also during its meeting tonight:

— Consider refinancing bonds in the amount of $7,455 for the purpose of refinancing on an advance basis the town’s bonds from Aug. 12, 2005.

— Consider appointing Curtis Picard to the Topsham Development Inc. board of directors.

— Consider the bids for the town administrative car. Bids were opened Tuesday.

— Consider having videos of Board of Selectmen and Planning Board meetings on demand on the town’s website.

— Consider meeting in executive session to review a union contract.

— Hear updates from Fire Chief Brian Stockdale on the overnight paramedic coverage since July 1; and an update from John Shattuck, the town’s economic and community development director.

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