Gardiner elected officials agree to support Boys & Girls Clubs funding request
By using revenue from the city's fund balance and Libby Hill TIF revenues over several years, the donation will have no impact on Gardiner's tax rate.
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GARDINER — Elected officials agreed Wednesday to commit to donate $500,000 toward the Boys & Girls Clubs of Kennebec Valley for its new building over a period of several years.
The money would come from the city’s fund balance — money the city already has on hand, similar to a savings account — and from revenue from the Libby Hill Tax Increment Financing district. On the recommendation of District 1 City Councilor Terry Berry, it will paid out only when fundraising reaches $9.5 million.