Augusta Considers $2.5M Tax Incentive for Hotel Project
City of AugustaCity · Augusta, ME- Disclosed value
- $2,581,859
- From meeting minutes
- Document date
- Oct 17, 2024
- Term
- 30 years
The 30-second brief
The City is considering the designation of a new Tax Increment Financing (TIF) District for 295 Water Street, and CEA with Uncommon Augusta, LLC that will allocate 75% of annual TIF revenues to Uncommon Augusta, LLC, over the first 20 years of the TIF, totaling approximately $2,581,859.
Uncommon Augusta holds this tax incentive contract with City of Augusta. Its other public contracts on record include work for Augusta village.
Term as filed: 30 years.
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Contract details
- Contract type
- Tax Incentive
- Amount
- $2,581,859
- Document date
- October 17, 2024
- Term
- 30 years
- Vendor
- Uncommon Augusta
- Agency
- City of Augusta
- Source document
- augusta-meetingminutes-2024-10-17_9bc.pdf (Meeting Minutes)
Uncommon Augusta's other public contracts
More City of Augusta contracts
Questions about this contract
Who was awarded the tax incentive contract by City of Augusta?
Uncommon Augusta was awarded this tax incentive contract by City of Augusta, as recorded on October 17, 2024. The contract value is $2,581,859.
How much is the Uncommon Augusta contract with City of Augusta worth?
The Uncommon Augusta contract with City of Augusta is valued at $2,581,859, covering tax incentive work.
What type of contract is this?
This is a Tax Incentive contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in augusta-meetingminutes-2024-10-17_9bc.pdf (Meeting Minutes), dated October 17, 2024 from City of Augusta. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Uncommon Augusta hold?
Uncommon Augusta may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Augusta currently buying?
Explore City of Augusta's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.