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Jaffrey TIF plans go to public hearing

  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)

    The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.

    (Staff photo by Alyssa Dandrea)

  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)

    The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.

    (Staff photo by Alyssa Dandrea)

  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)

    The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.

    (Staff photo by Alyssa Dandrea)

  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)
  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)
  • The Jaffrey Select Board discusses the budget for the town's two TIF districts during its regular meeting Monday night.<br/><br/>(Staff photo by Alyssa Dandrea)

JAFFREY — Two warrant articles will ask voters to approve financing plans for the Downtown and Stone Arch Bridge Tax Increment Finance districts at the March Town Meeting. The total anticipated return to the town’s General Fund is $157,794, down from last year’s return of $167,364.

“We generally return more than we anticipate and then that money goes back to the General Fund and will offset the budget for 2014,” Jo Anne Carr, the town’s director of planning and economic development, said in an interview with the Ledger-Transcript on Wednesday.

The Select Board recommended both financing plans presented by Carr at Monday’s board meeting, but they must still be vetted through the public hearing process before the March vote.

TIFs contain tax revenue collected by the town over and above the taxes collected in 1998 from the area that the district encompasses. The revenue is set aside for improvement projects within those districts on an annual basis and unspent revenue is returned to the town’s General Fund.

The proposed plan for the Downtown Development District includes $194,916 for improvement costs, with $122,981 in anticipated returns. The Jaffrey Economic Development Council — which includes taxpayers, business owners, a Select Board representative and Carr — approved $30,000 for TEAM Jaffrey; $3,000 for economic development and marketing; $30,000 for downtown traffic and intersection improvements along Route 202; $45,000 for clean up at the former Elite Laundry site; $50,000 to replace and repair lighting fixtures and sidewalks; $4,000 for ongoing improvements to the community ball field; $23,162 towards bond payment for land purchase and building demolition at the future community center site and $9,754 for administration.

Improvements to the Stone Arch Bridge Development District are expected to cost $151,551, with $34,813 in anticipated returns. The proposed plan includes $80,000 for the water main extension project from D.D. Bean & Sons on Peterborough Street to the industrial park on Old Sharon Road; $48,797 for an annual bond payment on intersection improvements at the Old Sharon Road and Route 202 intersection; $3,000 for economic development and marketing; $10,000 for stabilization of the cistern; and $9,754 for administration.

Jaffrey’s Budget Committee will hold a public hearing on the proposed 2013 operating budget and money warrant articles on Feb. 9. At that time, voters will have the chance to weigh in on the proposed TIF budgets.

The Select Board will hold a separate public hearing on the two TIF budgets on Feb. 11.

In other business at Monday’s Select Board meeting, Doni Ash of Keene, who owns Lab’n Lager of Keene, discussed his plans for the new site at the five-way intersection in downtown Jaffrey. Ash opened Lab’n Lager, a 21-and-over restaurant which sells pub-style food and 15 draft lines of beer, on Main Street in Keene in 2007.

After meeting with the N.H. State Liquor Commissioner this week to obtain a liquor license for the Jaffrey site, Ash said he hopes to open Lab’n Lager in Jaffrey on Feb. 8.

Alyssa Dandrea can be reached at 924-7172 ext. 228 or adandrea@ledgertranscript.com. She’s on Twitter at @alyssadandrea.

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