FARMINGTON — Proposed changes to Franklin County’s TIF
FARMINGTON — Proposed changes to Franklin County’s tax increment financing agreement with TransCanada Maine Wind Development would increase the county’s property tax rate by one cent per $1,000 worth of assessed property beginning in 2019, when a shift in the percentage of how much tax money from the company’s Kibby Mountain wind turbine project is captured in the TIF occurs.
However, a consultant helping the county government negotiate the terms of the TIF with TransCanada told a handful of residents at an informational meeting Tuesday night that the benefits of the proposed amendments far outweigh the slight increase in the tax rate: The agreement would mean approximately $12.4 million in additional money over the term of the TIF, which can be used towards a number of economic development programs.
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Comment
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Comment by Eric A. Tuttle on August 20, 2016 at 2:49pm
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5,000 Per year on a $2 million turbine. Now depreciated to a percentage of its expected life. If at a half life, that may produce 2,500 per year per turbine. But then one article states, most of (past &) these new funds are required to be put back into things that service the corporation, not the needs of the county. They get a tax write off for expenses, the county gives it back to them to maintain roads and other items. But the corporation looks good in the public eye as contributing more, the commissioners look good for getting more, the people again get skrewed.... just harder, and onward we go......... the public non the wiser.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
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(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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