Committee Guidelines

The Select Board approved establishing the TIF Advisory Committee with the following guidelines:

Purpose

The TIF Advisory Committee will review all expenditures from tax increment financing (TIF) and provide recommendations to the Select Board regarding proposed TIF expenditures. The Committee will also advise the Select Board on other matters pertaining to the TIF, as appropriate.

Membership

This Committee shall consist of seven (7) members. At least five (5) members must be residents of the community at large and no more than two (2) members may be non-resident Norridgewock business owners. Residency or business ownership must be maintained throughout the entire term or membership shall be forfeited. Members must be at least 18 years of age. All members shall be appointed by the Select Board for a term of three (3) years. All individuals interested in membership must complete a Town of Norridgewock TIF Committee Volunteer Application. Members may be removed for just cause (includes, but not limited to poor attendance, conflicts of interest, change in residency, etc.) at any time through a majority vote of the Select Board.

Meetings

Meetings are held as needed.

Reporting

The TIF Advisory Committee reports to the Select Board.

Goals

The Town of Norridgewock TIF Advisory Committee seeks to support investment for development and redevelopment projects that:

  • Stimulate capital investments that result in an increase in net taxable property value.
  • Attract new businesses that are compatible with the Town of Norridgewock’s Comprehensive Plan and Board of Selectmen goals.
  • Foster reconstruction and/or renovation of blighted, vacant, and/or underutilized commercial or industrial properties.
  • Support new construction of business in locations compatible with local plans and goals.
  • Support desirable projects that are otherwise financially infeasible.
  • Adds to or enhances the firm’s employment levels with salaries that compare to or exceed Area Median Income (AMI).