BRUNSWICK

The agency that oversees development of Brunswick Landing has agreed to run a $300,000 deficit for the next fiscal year.

The Midcoast Regional Redevelopment Authority voted unanimously Wednesday to accept a budget of more than $4 million. However, MRRA expects only $3.7 million in revenue for the next fiscal year.

The $300,000 projected shortfall is due to costs associated with operating Brunswick Executive Airport.

According to MRRA Treasure Rita Armstrong, the authority expects to run a deficit until 2016, on par with its long range financial plans.

“It’s an investment to get the airport up and running,” said Armstrong in an interview.

In addressing the board, Armstrong said the budget takes projected revenues conservatively, and its expenditures liberally.

Among major factors in the budget are $283,000 in debt that will be paid to the Navy, the loss of $321,000 in Office of Economic Adjustment grant money, $192,000 in sewer upgrades, and $150,000 in electric system repairs and upgrades.

“This is the public’s money,” MRRA Chairman John Peters told the board, praising Armstrong’s work. “We’re conscious of that.”

Also on Wednesday:

— The board unanimously approved a Natural Resources Management Plan.

The board was looking to formally adopt guidelines for the wildlife habitat at Brunswick Landing during its March meeting, but held off after concerns were raised by Ed Benedikt of Brunswick Area Citizens for a Safe Environment.

According to MRRA Executive Director Steven Levesque, in subsequent discussions with Citizens for a Safe Environment, it was revealed that the group was mostly concerned with the ongoing remediation program, which is not part of the management plan.

The site of the former base is home to critical wildlife habitat, including sandplain grassland and a pitch pine heath barren.

— Levesque updated the board on the growth of Brunswick Landing. Sales and lease activities have continued at a very brisk pace, he said. MRRA has received a total of 1,660 total acres from the Navy to date, and is expecting six additional acres in the next several weeks.

MRRA has sold more than 600,000 square feet of building space, with nearly twice as much — 1 million square feet — remaining.

MRRA has exceeded its projections in terms of job creation, as it had projected 285 jobs at Brunswick Landing at this point.

“We’re now at a little over 400,” Levesque said.

jswinconeck@timesrecord.com