Residents in Scarborough have before them an incredible opportunity to shape their economic future. The Downs development will diversify Scarborough’s tax base, create thousands of jobs, generate millions in new tax revenue and attract new businesses to town – all without burdening existing taxpayers!

I have worked in economic development for the past 20 years. I am a past board member of the Scarborough Economic Development Corp., where I volunteered my services to help create a plan to guide the town’s economic future. I have been active in helping to create Scarborough Buy Local and the Scarborough Farmers Market and to increase affordable housing.

I currently work for The Downs team as an economic analyst. What makes my involvement unique is that I also live in Scarborough; I’ve built my business here, and I care deeply about this community.

The Downs proposal is based on sound real estate market analysis. The private market analysis has been vetted through peer review by a town-selected analyst and was considered “sound.”

The proposed partnership with the town is responsible fiscal policy. Based on the town’s own analysis, the plan will result in a net positive impact to taxpayers, bringing in more than $10 million annually and exceeding all costs associated with development. This partnership enables private investment in infrastructure of more than $265 million without any borrowing or debt service on the part of Scarborough taxpayers.

Finally, the Downs plan is a good fit with the community. It is grounded in the town’s economic and comprehensive plans, both of which were created through community engagement.

All of these factors make this development partnership consistent with best practices that integrate market realities with fiscal responsibility, for a development that puts quality of place front and center.

Jim Damicis

Scarborough


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