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City to conduct Wight Street redevelopment survey

By Kendra Caruso | May 11, 2021
Source: File photo

Belfast — City Councilors at their May 4 meeting approved Olver Associates Inc., a Winterport civil engineering firm, to conduct a redevelopment survey for Wight Street.

It will use 50% of the tax increment financing funds the area generates for public projects like stormwater improvements and road construction, according to City Planner Wayne Marshall. The redevelopment project is estimated to cost $2.1 million.

The other half of the TIF funds go to the two separate affordable housing projects in development by Developers Collaborative and Realty Resources. He said it is a good time to do the survey before Olver starts summer assessments.

The amount of revenue expected from the projects will be less than anticipated because Developers Collaborative could not construct the 12 market-rate units it intended, Marshall said.

Olver would not be paid until the next fiscal year, and the payment would come out of the Capital Campaign Projects account, City Manager Erin Herbig said. Having the survey work done would allow the city to put government funds toward the project.

Once the survey is complete, the city could use the information to decide when to do the project, Marshall said. It is not a commitment to move forward with all project work, rather just to take the first step to have information available to help with future budgeting.

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