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Credit Enhancement Announcement by Councilor Wm. Donovan, Chair

posted Sep 21, 2018, 1:35 PM by Colette Mathieson   [ updated Sep 24, 2018, 6:10 AM by Town Webmaster ]
A proposed Credit Enhancement Agreement between the Town and Scarborough Downs is now available for public consideration on the Town’s website. Other relevant documents have also been posted to provide both financial and economic development information. This information includes both further details as well as summaries of the proposed agreement and its impact. More information will be added beyond this in the coming weeks.

Several public forums are also scheduled to allow the community to understand and critique the proposed agreement. The first is on Monday, September 24 at 6:00 pm at the Public Library. The second is on Wednesday September 26 at 6:00 pm at Scarborough Downs. Representatives from both the Town and the Downs will be present to answer questions.

The Town Council’s goal is to fully inform the public and gauge public reaction before moving ahead. If done right this project has the potential to be the most important public-private partnership that Scarborough will ever entertain. Thus far, through Council workshops and executive sessions, intense analysis, and lengthy negotiations over many months, the Town has moved forward in deliberate fashion to this critical point. We now welcome the opportunity to share with the public much more of the work that has been done and invite critique and comment.