1. Freeport’s Active TIF Districts
TIF District Name Expiration Date Proceeds
Berenson/L.L.Bean TIF Parking Garage, Street/sidewalk
improvements
Park Street TIF Street/sidewalk
Destination Freeport TIF Street/sidewalk and other improvements

2. Freeport’s TIF Capacities
Maximum Freeport TAXABLE ACREAGE allowed by the state in TIF districts
Total Taxable Acreage 16,640 (100%)
Amount allowed to be used in TIF districts (5%)
Amount currently in TIF districts (1.5%)
Amount available to be used for TIF districts (3.5%)

3. Freeport’s TIF Capacities
Maximum Freeport original ASSESSED VALUE allowed by the state in TIF districts
Total Assessed Value $1,546,890,774 (100%)
Amount allowed to be used in TIF districts
$77,344,539 (5%)
Amount currently in TIF districts $13,126,101 (.85%)
Amount available to be used for TIF districts $64,218,438 (4.15%)

4. Sheltering Benefits for Freeport
For every $1M of captured value current mil rate of $12.75) the town will collect $12,750 in taxes
Without Shelter
(to General Fund)
$12,750 (taxes)
-$531 (county)
-$443 (State)
-$6,800 (Education)
$12, $4,976
With Shelter (in TIF)
$12,750 (taxes)

5. Proposed Investment In Businesses
Direct funds from the Park Street TIF $48,000 for marketing and economic development arm of the chamber
Extend the expiration date by 24 years