Please do not leave this page until complete. This can take a few moments.
The status of a $26 million mixed-use development slated for Lewiston's Island Point is unknown in the wake of a fire yesterday that leveled the remains of the historic Cowan Mill.
Hotelier Bob Winston of North Carolina received initial approval last spring for tax increment financing from the city to help him develop the site into a Marriott Courtyard hotel, private parking garage, and mixed retail/residential complex, the latter of which would have been housed in the former textile mill. Lincoln Jeffers, economic development director for the city, told Mainebiz this morning that he has been trying to notify Winston of the fire, but has been unable to reach him.
Winston had been lining up financing for the project, and was seeking historic preservation tax credits and New Market tax credits, which are now imperiled because of the fire, Jeffers said. If approved, the combined federal and state tax credits would have returned about 45% of the cost of redeveloping the Cowan Mill.
Jeffers said the tight credit market had delayed Winston's plans, but the project was still viable before the fire.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments