A Dec. 12 Monday Meter titled “Hostility trumps hospitality” did not make clear the difference between tax increment financing arrangements for the developers of the Inn at Brunswick Station and the Hampton Inn in Bath.
The Brunswick agreement allows the developers to retain a portion of the revenue increase generated by the project’s increased value. In Bath, the city designated the property where the hotel was built as a tax increment financing district. The city captured the increased revenue, then used a portion of that revenue to award a sidewalk and streetscape design and construction contract to developer Peter Anastos.
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