The Scarborough Community Chamber of Commerce Board of Directors has unanimously voted in favor of the proposed tax increment financing districts and the credit enhancement agreement with developers of the Scarborough Downs property (Crossroads Holdings).

The proposed plan, with caps and requirements included by the town, affords a controlled and balanced use of the property. The credit enhancement agreement is performance-based; there are no up-front costs to the town. The numbers may be large but they are fair and reasonable, with both the developer and the town winning in the end. This is a once-in-a-lifetime opportunity that will be a huge boon for our town and all of its citizens.

Crossroads Holdings is not only a reputable company with many years of combined experience, it also comprises people who have lived and worked in this community for over 50 years. They took the initiative to work with the town’s own comprehensive plan from the beginning, and they have a clear vision for what we believe will be very beneficial to our town.

Development of this area is inevitable. This will happen, and in a relatively short time period, with or without this agreement. The town, the Town Council and the Scarborough Economic Development Corp. have done an exceptional job vetting and negotiating this proposal, which would allow the town to have a voice throughout the process and work closely with the developers over the course of this project.

On behalf of our membership, board and the business community at large, we hope the Town Council will consider agreeing to this proposal so that we can seize this extraordinary opportunity.

Art Dillon

president, Scarborough Community Chamber of Commerce

Scarborough


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