Apr 6, 2026Board meeting
Saco City Council Council Meeting
The meeting featured a presentation on Tax Increment Financing (TIF) districts as an economic development tool for the municipality. The discussion covered the definition and mechanics of TIF districts, how they capture increased assessed value, and the various types of districts available under state law, including economic development, affordable housing, downtown, and transit-oriented TIFs. The presentation also addressed the process for enacting TIFs, project cost eligibility, the role of credit enhancement agreements with developers, and the tax shift benefits that municipalities receive by establishing these districts.