The Windham Economic Development Corporation has issued a report updating the Windham Town Council about the status of the town’s Tax Increment Financing (TIF) Program and estimated fund balances.
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| The Windham Town Council has received a report from the Windham Economic Development Corporation updating the status of Tax Increment Financing fund balances at the end of the last fiscal year and municipal valuations for TIF districts. PHOTO BY ED PIERCE |
Both the total acreage and the amount of acreage in individual TIF’s are limited. A single TIF cannot exceed 2 percent of the town’s total municipal acreage, and the total of all acreage, with certain exclusions, cannot exceed 5 percent. Currently, 476.28 acres of the total of 35,572 acres or 1.34 percent of Windham are in TIF Districts. With 5 percent of the total municipal acreage of 1,779 acres, the town could place up to an additional 1,302.72 acres into TIF Districts, provided that, under state law, no more than 711.44 acres are in any one district.
Here are fund balances and valuations from the WEDC report which was issued to the town in November:
Windham’s 2000 Pipeline TIF District runs through June 30, 2030, and was extended in 2015. It is a development program for Route 302 roadway, intersection, sidewalk and sewer engineering and construction, GIS system, environmental study, and economic development administration. As of June 30, 2024, its Fund Balance was $718,344 based upon current municipal valuation of $10 million.
The 2006 Roosevelt Promenade TIF District expires in 2036 following Windham Town Council action and approval of a 15-year extension in March 2021. The district consists of 37.39 acres including the Home Depot and Lowe’s parcels in Windham. It is a development program funding costs for a local transportation study, growth study, public infrastructure study and WEDC staffing as well as infrastructure improvements including roadway and intersection improvements in the district, roadway and intersection improvements on Route 302, wastewater facilities’ engineering and construction in the district, and wastewater facilities engineering and construction on Route 302. As of June 30, 2024, its Fund Balance was $490,502.
The 2014 New Marblehead Manor Affordable Housing Development District expires in 2044. The district consists of 3.7 acres consisting of one phase of New Marblehead Manor. The Development Program consists of a Credit Enhancement Agreement with Avesta New Marblehead. Its unaudited Fund Balance was $0.00, and its Current Municipal Valuation is $2,157,900.
The 2015 Gateway North A TIF District runs through June 30, 2045 after an extension in 2023. The district consists of 99.77 acres of various parcels in the North Windham commercial district. The development program includes making roadway and intersection improvements in the district, roadway and intersection improvements on Route 302, wastewater facilities engineering and construction in the district, and utility services relocation either above or underground in the district. As of June 30, its Fund Balance was $265,666 with current valuation of $19,597,041.
The 2019 Gateway North B TIF District runs through June 30, 2048. The district consists of 42.81 acres of various parcels in the North Windham commercial district. Its development program includes roadway and intersection improvements in the district, roadway and intersection improvements on Route 302, wastewater facilities engineering and construction in the district and streetscape improvements in and/or adjacent to the district and on Route 302. Its Fund Balance as of June 30, 2024 was $359,284, and its current Municipal Valuation is $26,269,900.
Established in 2021, the Boody’s Corner TIF District runs through June 30, 2051. The district consists of 16.31 acres improved as the Cross Insurance/Bangor Savings Bank building and apartments on Dusty Rhoades Lane in Windham. The development program includes making roadway, intersection, and sidewalk improvements in the district, roadway, intersection, and sidewalk improvements in North Windham, wastewater facilities engineering and construction in and serving the district, streetscape improvements in and/or adjacent to the district and on Varney Mill Road, and transit improvements. As of June 30, 2024, its Fund Balance was $368,293 and its Current Municipal Valuation is $13,560,600.
2021’s SWFS Depot Street Apartments TIF District runs through June 30, 2051. The district consists of 0.35 acres so improved as a municipal fire station and 2.08 acres improved as the Depot Street Apartments in the South Windham Village for a total of 2.43 acres. The development Program includes roadway and intersection improvements in South Windham Village, roadway and intersection improvements on River Road, wastewater facilities engineering and construction in SW Village, and streetscape improvements in and/or adjacent to the SW Village and on River Road. As of June 30, 2024, its Fund Balance was $185,061 and its Current Municipal Valuation is $2,548,200.
The 2022 Enterprise Development A TIF District runs through June 30, 2052. The district consists of 67.13 acres improved as commercial buildings and parcels in the Quarry Ridge Business Park and adjacent to Route 302 in Windham. The Development Program includes roadway, intersection, and sidewalk improvements in the district, roadway, intersection, and sidewalk improvements in North Windham, wastewater facilities engineering and construction in and serving the district, streetscape improvements in and/or adjacent to the district and on Route 302 and transit improvements. As of June 30, 2024, its Fund Balance was $65,059 and its Current Municipal Valuation is $4,495,600.
2023 Boody’s Corner B TIF District runs through June 30, 2053. The district consists of 14.06 acres improved as the Badger Run Apartments (1.79 acres), 55 Tandberg Trail Apartments (0.3 acres), commercial land currently improved as a mobile home park on Robin Lane (9.49 acres), and a portion of 718 Roosevelt Trail improved as a municipal fire station (2.48 acres) in Windham. The development program includes roadway, intersection, and sidewalk improvements in the district, wastewater facilities engineering and construction in and serving the district, utility services relocation either above or underground in North Windham, and transit improvements. Its Fund Balance as of June 30, 2024 was $42,110 and its Current Municipal Valuation is $7,904,200.
2023’s South Windham Industrial Zone TIF District runs through June 30, 2053. The district consists of 62.99 acres improved as commercial buildings and parcels on or adjacent to Gambo Road in the South Windham Industrial Zone. The development program includes roadway, intersection, and sidewalk improvements in the district, roadway, intersection, and sidewalk improvements in South Windham, streetscape improvements in and/or adjacent to the district and in South Windham, transit improvements, Windham Economic Development Corporation administration and the design and development of economic development facilities including maker space, co-working space, and shared commercial kitchen space in Windham. As of June 30, 2024, its Fund Balance was $10,568 and Current Municipal Valuation is $2,076,200.
The 2024 Boody’s Corner C TIF District runs through June 30, 2054. The district consists of 72.60 acres of commercial property on Franklin Drive, Tandberg Trail, Turning Leaf Drive, and along Route 302 in Windham. The development program includes roadway, intersection, and sidewalk improvements in the district, roadway, intersection, and sidewalk improvements in North Windham, and wastewater facilities engineering and construction in and serving the district. As of June 30, 2024, its Fund Balance was not available. Its Current Municipal Valuation is $8,275,700.
2024’s Gateway South TIF District runs through June 30, 2054. The district consists of 40.85 acres of commercial property on First Light Drive, and along Route 302 in Windham. The development program includes roadway, intersection, and sidewalk improvements in the district, wastewater facilities engineering and construction connecting to the district, Commercial Façade improvement programming and transit improvements. As of June 30, 2024, its Fund Balance was not available. Its Current Municipal Valuation is $542,200.
For 2025, new TIF Districts in Windham will include 2025 Anglers Road Senior Affordable Housing Development and Tax Increment Financing District and the 2025 Andrew School South Windham TIF District. <
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