Town ponders seasonal cottages

Arundel officials discuss possibility of using TIF district for project

 

By Alex Acquisto

Staff Writer 

http://post.mainelymediallc.com/news/2013-11-15/Front_Page/Town_ponders_seasonal_cottages.html

ARUNDEL – The Economic Development Committee met with Jim Damicis, senior vice president for Camoin Associates, a Scarborough-based economic development firm, along with independent contractor Joe Paolini on Tuesday night to further discuss forming the town’s first option of a Tax Increment Financing district to fund construction of the seasonal Arundel Kennebunkport Cottage Preserve. Arundel has no TIF districts.

Housing units numbering approximately 260 would be constructed on 195 acres between Portland Road and Mountain Road, just north of Fritz’s Tire and Timeless Classics.
The size of the units would range from 850 to 1,350 square feet and would be valued, on average, at $220,000.

In addition to the housing units, a 9.2 parcel fronting Route 1 would provide commercial and retail space for a year-round establishment such as a post office, Paolini said.

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