In June, Edgecomb residents authorized the purchase of a new fire truck. That was the easy part. During a June 4 special town meeting, 31 residents unanimously approved buying the $247,600 truck. Now comes the hard part, figuring out how to pay for the town’s first new fire truck since 1989.

Selectmen are considering a method used to finance other local projects: tax increment financing. The TIF District was created in 2005 to finance the Davis Island housing development’s water and sewer connection to Wiscasset. The term was for 20 years, later amended to 30. In 2011, Edgecomb amended the TIF again, to include financing most of the fire station construction.

Previous TIF projects were for infrastructure, but the fire truck is an equipment purchase which isn’t allowed under the agreement. Selectmen met with lawyer Jon Pottle July 16 to discuss amending the agreement to allow it. Pottle works for the Bangor law firm of Eaton Peabody and specializes in municipal issues.

Pottle has reviewed the agreement and other documents regarding the TIF district which encompasses U.S. Route 1 and Eddy Road. All TIF projects must get state Department of Economic and Community Development approval. Tax increment financing began during Gov. Angus King’s administration to encourage municipal economic growth and infrastructure investment. The TIF shields increased property values from state valuation figures. The municipality and businesses share proceeds from the increased property valuations. The municipality receives 55 percent of increased valuations and the business retains 45 percent.

Pottle advised selectmen to consider resetting the TIF’s term back to 30 years. The current agreement expires in 2036. He also recommended thinking about other municipal projects which could fall under an amended agreement. “Think about your community needs and include them into the amendment. This will avoid going back unnecessarily for another DECD approval,” he said.

Pottle also recommended setting dates for an informational meeting to discuss possible TIF agreement amendments, a required public hearing, and a date for a special town meeting. Selectmen discussed scheduling a special town meeting sometime after Labor Day. Pottle will review additional TIF-related documents. Selectman Jack Sarmanian will share the board’s list of other potential TIF projects with Pottle in the next few days. Pottle will share his TIF amendment language recommendations for voter approval when he talks with Sarmanian. 

Any changes residents approve need DECD approval.

Edgecomb orderd a $247,600 fire truck following the June special town meeting. The truck will be delivered next spring and payment wouldn’t be due until 2020. Selectmen plan to seek a five-year bank loan and use TIF money to make loan payments.

In other action, selectmen discussed setting a purchase price for a 3.3-acre portion of the Lallis property. Edgecomb acquired the 80-acre Lallis property in 2004. Town officials didn’​t develop or seek a buyer for the tax-acquired property for 14 years due to its proximity to local land preserves. But last year, selectmen decided to subdivide and sell a portion as an undeveloped house lot.

Earlier this year, selectmen hired a surveyor and tested the water. Last month,the board also received property valuation estimates from a local realtor and tax assessor. The two professionals estimated a $29,000 to $33,000 land value. Selectmen will follow guidelines adopted last year for disposing of tax-acquired property. Selectmen will set a minimum bid and then contact the newly created house lot’s two abutters. If neither abutter is interested, the board will put the property out to bid.

Selectmen will meet next at 6 p.m. Monday, July 30 in the municipal building.