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Portland City Council will mull over Mayor Ethan Strimling’s proposed requirements on construction projects that utilize tax increment financing, but council members say they don’t want to impose the regulations on a proposal already underway.
The Portland-based animal health products manufacturer ImmuCell Corp. (NasdaqCM: ICCC) has a pending $375,000 TIF agreement for a $17.5 million expansion in the city.
According to WCSH-TV6, Strimling is proposing that the contractors of a project using TIF funding meet certain requirements for training and hiring of employees.
The proposed requirements, according to WCSH6 include:
Portland City Councilor David Brenneman, who negotiated the TIF deal with ImmuCell, said that it's too late in the process to add these new provisions, according to WCSH.
“It’s unfair to the company and I think down the road it affects the credibility of the city,” Brenneman said, according to WCSH.
Read more
No bull here: ImmuCell moves ahead with expansion plans
ImmuCell continues growth, backlog in first quarter
ImmuCell looks to tax break to aid in Portland expansion
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