Chamber supports Civic Center bond
The Portland Regional Chamber is backing the Cumberland County Civic Center renovation bond, arguing that the center is an important regional asset that generates close to $20 million in annual economic impact and supports hundreds of jobs.
The chamber's board has unanimously voted to support the $33 million bond, which Portland residents will vote on in November, according to a press release.
"...the Civic Center is facing economic and physical obsolescence," Godfrey Wood, the chamber's CEO, said in the release. "Without a major upgrade, the building will start losing business. An investment that restores the facility's economic strength is a necessity."
The board also said it believes the $33 million that's been authorized for the bond may be a high estimate because interest rates and construction costs are so low. "The financial assumptions built into the renovation plan are extremely conservative. And if everyone does their job, we see no reason why the bond should raise property taxes at all," the release says.
A group called Citizens for a Modern Civic Center, which includes Brian Petrovek, managing owner and CEO of the Portland Pirates, has also organized and is seeking donations to help finance its campaign in support of the bond.
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