MADISON — Officials are hoping to garner public feedback in coming weeks on a proposal to build a $4.6 million, 42-bed senior living center and put in place a tax incentive that would provide some relief for the developer while directing other dollars toward economic development.
Waterville-based Woodlands Senior Living is proposing to build the senior living center on East Madison Road near the Skowhegan town line and has estimated the project will create 28 to 30 full-time jobs.
Officials are hopeful about the development, and the Board of Selectmen already has approved the creation of a tax-increment financing, or TIF, district on the property.
“It’s a perfect fit for our community,” Madison Town Manager Tim Curtis said. “Not only is it going to provide upwards of 30 good jobs, it will provide the area with resources for people who need these types of services, and we’re very excited about it.”
The TIF district would allow Woodlands to retain 85 percent of its property tax payment for 15 years and put the remaining 15 percent toward a town economic development fund, Curtis said.
It requires a public hearing and approval from residents at a special town meeting as well as approval from the Maine Department of Economic and Community Development.
With the company looking to start construction in a few months, Curtis said, the town is hoping to hold the hearing and special town meeting soon. Selectmen are scheduled to discuss a date for the meeting Monday.
Officials in Farmington approved a 10-year tax relief plan for Woodlands Memory Care of Farmington, a 37-bed assisted living facility specializing in the care of patients with Alzheimer’s disease and similar conditions. The organization is proposing another “memory care” facility in Madison that the company says would look almost identical to the Farmington home.
“There are always some people opposed to the idea of TIFs and people getting their tax dollars returned,” he said. “But when you weigh out all the potential for a business like this, we anticipate it would be there long after 15 years so we are expanding job opportunities, expanding the tax base and helping the economy.”
Under the terms of the TIF that has been drafted, Woodlands would save about $70,000 annually for 15 years on taxes and would pay about $13,000 to the town for economic development.
The company currently operates 14 separately licensed senior living communities in the state, including a recently built “memory care” center in Farmington that provides care for people with Alzheimer’s disease and other dementia-related illnesses.
It also received a tax break on that development, with the town of Farmington agreeing in 2016 to reimburse the company 100 percent of its property tax payments for 10 years.
Matthew Walters, chief operating officer for Woodlands, said the company is at capacity for its memory centers in Farmington and Waterville and often receives inquiries about space from families in the Madison and Skowhegan areas.
He said the Madison facility also would provide care for people with Alzheimer’s disease and similar conditions.
“We get quite a few inquiries at both locations from people in that area so we were looking at how we can better serve those families,” Walters said. “We do have quite a big waiting list in Waterville and Farmington, so it seemed like a good fit to look in that area.”
“It’s a perfect fit for our community,” Curtis said. “It’s going to provide upwards of 30 good jobs and provides resources for the people who need these types of services. We’re very excited about it.”
Rachel Ohm — 612-2368
Twitter: @rachel_ohm
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