City of Augusta Informational Meeting Agenda March 2026
Augusta Council Considers TIF Agreement for Riverlands Project
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Description
The City of Augusta is considering entering into a 30-year Affordable Housing Tax Increment Financing (TIF) credit enhancement agreement with Developers Collaborative. The agreement would reimburse approximately 75% of incremental property tax revenues, projected at $471,484.62 over the term, to support construction and operation of the Riverlands Housing Project.
Contract Details
Contract Amount
75% reimbursement of incremental TIF revenues, projected at $15,716.15/year (total approx. $471,484.62 over 30 years)
Vendor
DEVELOPERS COLLABORATIVE
Agency
City of Augusta, ME
Contract Type
OTHER
Document Date
March 12, 2026
Contract Term
30 years (2026–2056)
Renewal Date
2056-06-30
Renewal Info
Term is 30 years; subject to formal council approval and public hearing. No automatic renewal; end date projected as 2056.
More from DEVELOPERS COLLABORATIVE
Related Contracts
Town of Windham Planning Board Meeting Minutes April 2026
EXTENDEDWiscasset Economic Development Committee Meeting Agenda April 2026
DISCUSSedCity of Augusta Informational Meeting Agenda March 2026
PENDINGPortland Water District Board of Trustees Meeting Agenda December 2025
AWARDEDtown_of_brunswick_town_council_regular_meeting_age.pdf
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