Tax Break for Redevelopment of Former MaineGeneral Building Accepted in Augusta
Augusta city councilors unanimously approved a plan Thursday that would help in the redevelopment of the old MaineGeneral Medical Center. Augusta East Redevelopment Corporation bought the complex of buildings last month for $2.5 million. The hospital is building a new facility in North Augusta that’s scheduled to open in late fall. The developer of the current property is asking the city to approve a tax increment financing package. The deal would return property taxes to the company to help cover the cost of renovations. Developer Kevin Mattson says there are plans to spent about $23 million on that project, and they expect 1,000 jobs to be created.