As part of their work on the Downtown Master Plan, the Waldoboro Economic Development Committee hosted the first of two Downtown Community Forums on May 26, at the Meenagha Grange Hall in the downtown village.
The first forum was focused on information specific to downtown property and business owners. The second forum, which will be held June 23, will be broader in scope and designed for all residents. The second forum will seek to describe why focusing on economic development in the downtown benefits the entire community, organizers said.
About 40 residents, town officials and members of the Economic Development Committee attended the first forum.
Waldoboro Planning and Development Director Misty Gorski, Rockland Planning and Development Director Rodney Lynch and Denis Lachman of Lachman Architects and Planners, the consultants working on the Downtown Master Plan, all spoke about opportunities for grants and tax breaks available for business and property owners who make improvements to their buildings.
Many of the financial tools described at the meeting are contingent on the village being placed on the National Register of Historic Districts. Buildings that are individually listed in the National Register of Historic Places are also eligible, Lachman said.
During a site visit to Waldoboro earlier this year, a representative from the National Historic Register told the town they have a “real possibility of qualifying as a historic district,” Lachman said.
In order to be listed as a historic district, affected property owners will need to vote. Without at least 50 percent approval from property owners, a district cannot be listed.
If the village is listed as a historic district, rehabilitation and improvement projects will qualify for a number of significant tax incentives, which Lachman and Lynch described in detail at the meeting. The limitations placed on buildings in historic districts apply only to projects seeking tax breaks, Lachman said.
Some local governments place additional requirements on projects in historic districts, but the state and federal restrictions are only on projects seeking financial incentives, Lachman said.
“It’s a carrot and hoops scenario,” Lachman said. “If you want to get the tax credit, you have to jump through some hoops.” Namely, project approval from historic preservation experts. “If you don’t want the money, you don’t have to meet the standards.”
The US Dept. of the Interior sets the standards on projects in historic districts.
Other funding opportunities discussed at the meeting included public and private grants and low and zero interest loans. Funding, loans and tax credits are available for improvement projects including building façade improvement, streetscapes, storm drainage, the creation of a river walk and improving downtown housing.
“A vibrant downtown reflects the quality of life here,” Gorski said. “The downtown has suffered from many struggles over the years, but when you have local businesses working together, everyone wins.”
For more information on the Downtown Master Plan, the next Downtown Community Forum or any of the projects discussed at the first forum, call Misty Gorski at the Waldoboro Town Office at 832-5369, or email planning@waldoboromaine.org.