franklin county tif workshops presentation
TRANSCRIPT
Franklin CountyTax Increment Financing Workshop
February 27, 2014
Carrabassett Valley Library
Introduction:
Established in May of 2008, the Franklin County Tax
Increment Financing (TIF) District was created to
provide public assistance to the financing of the Kibby
Wind Power Project and to establish an economic
development program for the Unorganized Townships of
Franklin County.
Introduction:
The County Commissioners worked with the TransCanada Maine Wind
Development Inc. to establish a TIF District and an associated Credit
Enhancement Agreement to allow for the taxes generated by the project to
remain in the County’s unorganized townships for the purpose of economic
development.
The TIF and CEA allow for
75% of the new taxes generated by the project to be retained by the
county over 20 years.
The County agreed to reimburse to the Company 60% of those new
taxes annually for 20 years.
The remainder of the TIF funds (40%) would be dedicated to the
County for economic development purposes .
Unorganized Townships
Chain of Ponds Township
Coburn Gore
Freeman Township
Lang Township
Madrid Township
Perkins Township
Redington Township
Salem Township
Township D
Township E
No. 1, R.5 (Jim Pond)
No.1, R.5 (Skinner)
No.2, R.4 (Tim Pond)
No.2, R.6 (Chain of Ponds)
No.2, R.7 W.B.K.P
No.2, R. 8 (Beattie)
No.3, R.3 (Davis)
No.3, R.4 (Stetsontown)
No.3 R.5 (Seven Ponds)
No.3, R.6 (Massachusetts
Gore)
No.4, R.1 (Mt. Abraham),
B.K.P., W.K.P
No.4, R.3 (Wyman) B.K.P.,
W.K.P.
Township 6
Washington Township
No.1, R.6 (Kibby)
No.1, R.9 (Gorham Gore)
No.2, R.5 (Alder Stream)
Project-Based GrantApplication Breakdown
Types of Projects for Which Franklin County
TIF Project Grant Funds can be Used
Scenic Byway Improvements
Tourism Planning and Marketing
Scenic Byway Planning and Updates
Match for Grants
Multi-Purpose Recreation Trails
The steps to completing the application are as
follows:
1. Submit Letter of Intent
2. Upon receiving feedback from the TIF Review Committee, compile proof of engagement, letters of intent and proof of required permits and easements.
3. Complete the online form
4. Submit the online form and all required materials to: [email protected] AND [email protected]
5. Documents which can not be sent electronically should be sent to:
Julie Magoon
c/o Franklin County Commissioners’ Office
140 Main Street
Farmington, ME 04938
Letter of Intent
An introduction to the project and how it benefits the
Unorganized Township (UT)
A description of your organization
A statement of need and amount requested
A brief outline of your plans of action
A brief discussion of your other funding sources for the
project (donations, other grants, etc.)
The Letter of Intent must not exceed the one page provided on the form.
The Franklin County TIF grant application is
made up of four parts, all due together
1. Proof of engagement with a Franklin County Network
2. Letters of Agreement
3. Proof of Permissions, Permits and Easements
4. Online TIF Grant Application form
Letters of Agreement
If your project is collaborative – the financial and time
responsibility of more than one organization – letters of
agreement are required.
Do not send letters of agreement if only your organization takes
responsibility for the project.
It is strongly recommended that you work collaboratively
with other businesses, as it will enhance your overall
score.
Example: Letter of Agreement
Mike from ATV Club A
will work with Jim
From ATV Club Z to
restore trails in their
area. Mike is applying
for a TIF grant. Their
letter of
understanding could
look like this..
Dear Mike, ATV Club A –
We here at ATV Club Z will contribute the following to the trail restoration project from May
3rd-May 30th, 2014.
- Provide $3,000 towards labor costs
- Spend 15 hours weekly devoted to leveling the trails and beautifying them
- Meet biweekly with the ATV Club A to discuss project progress
- Help market the trails after their renovation by notifying our network
ATV Club A has agreed to contribute the following from May 3rd – May 30th 2014
-the remaining $7,000 of the $10,000 in labor costs
-Supply equipment and materials necessary for project completion
-Spend 15 to 30 hours weekly devoted to trail restoration
-Attend biweekly meetings with ATV Club Z to discuss project progress
-Facilitation of various administrative and other tasks as they arise
We look forward to working together on this project!
Sincerely,
Jim Smith, ATV Club Z
(Signature, Date)
Agreed by: Mike LaBrecque, ATV Club A
(Signature, Date)
Proof of Engagement with a Franklin
County Network
Ex. Franklin County Community College Network, Franklin County Tourism Network, High Peaks Creative Council etc.
Proof of Engagement should be documented by
Current or former membership in an organization by you or a project partner.
Previous project work with an organization.
Participation in a networks programming.
Planned participation is also accepted, but must be documented and available to submit to the committee upon request.
Proof of Permissions Permits, and Easements
If your project will require Permissions and
Easements, documentation of your successful
access to these will be required.
If your project will require a permit, proof of
approval is needed at time of applicaton.
Online Form
Form can be found at
http://www.greaterfranklin.com/resources/franklin
countytif
DUE:
Letter of intent: March 17, 2014
Grant Application : May 7, 2014
Instructions for downloading and saving
a PDF form
Both the letter of intent form, and the Project-Based
Grant Online Form are provided in PDF format. In order
to complete these forms, you must have Acrobat Reader
installed on you computer. If you do not, you can
download Acrobat Reader by going to
http://get.adobe.com/reader
Saving PDF files to your computer
Allow your mouse to hover over
the bottom right of the screen.
When the black command box
appears, click on the disk,
indicating you would like to save
the document to your computer
Saving PDF files to your computer
Choose to save the application to
your desktop. You should now be
able to locate the application on
your computer desktop. You may
fill in, save and print the
application
Filling out the Form
The Online Form is Comprised of:
General Information
Project Summary
Project Objectives
Project Timeline
Funding and Expenses
Collaborating Organizations or Businesses
Required Documents and Information
Download adobe reader
Save form to your desktop and
complete. Save when completed.
Attach completed form, and other
scanned documents to an email, and send
to:
Submitting the Application
AND
TIF Project Scoring Sheet
Project Name: Amount Requested: Amount Recommended
Standard Criteria (Score All Criteria) Points Possible Points Awarded
Evidence of Collaboration 1-20
Evidence of engagement with a Franklin County “Network” 1-10
Potential to provide direct benefit to business(es) in the UT 1-10
Project applicant home or work address in the UT 0 or 5
Leveraging Other Funds: % of Total Project Costs_________ 1-10
Specific Criteria (Score One Category) Points Possible
Scenic Byway Improvements 1-10
Tourism Planning and Marketing 1-10
Scenic Byway Planning and Updates 1-10
Match for Grants 1-10
Multi-Purpose Recreation Trails 1-10
(Total Points Possible: 65) Total Points
Date:
Location of Project:
Scored by:
Category:
Notes:
Required Follow-Up InformationProgress and Final Reports
Progress Report
The Progress Report will be due within 6 months of the
dispersal of grand funds
• General Information
• Progress Summary
• Expense Summary
Progress Report
General Information
• Name and project title
• Specify the amount of the grant you received
• Official start date
• Projected end date
Progress Report
Progress Summary
• Summary in bullet form
• 300 words
• Describe progress made thus far
• Including:
• Actions taken
• Modified plans
• In-progress actions
• Any measurable results
• Other applicable information
Progress Report
Expense Summary
In this section, there
will be four expense
tables for you to fill in.
Final Report
Final Report
Due within 60 days of project completion, Includes:
• General Information
• Progress Summary
• Expense Summary
Final Report
General Information
As on the TIF Grant Application online form and TIF Progress
Report, you will be required to provide general information
such as your name and project title. In this section, you
will also be asked to specify the amount of the grant you
received, as well as your official project start and end
dates
Final Report
Progress Summary
You will then be asked to write a final project summary – no
more than 350 words – describing the project and progress
you have made since the progress report. This should
include all actions taken, modified plans, any measurable
results, and other information at your discretion
Final Report
Expense Summary:In this section, there will
be eight tables for you to
fill in
The End
and
Good Luck!