Dear Editor:

In words so brilliantly written lawyers would cheer, Paul Coulombe, in his advertisement appearing in the Register Sept. 29, gives it to us straight.

All taxes paid by his golf course, even the $100,000 in taxes he estimates will be generated annually by his Village, will be returned to him for up to 30 years. During this time we, as taxpayers, receive nothing, nada, zilch.

Why is this?

As principal developer in a TIF District, Mr. Coulombe has expended huge sums. There is his golf course and its structures, which I have heard amount to $50 million.

He is building a business complex, has paid for the re-positioning of the EMS building, will be buying the gas station and paying infra-structure costs to eliminate a troublesome curve and, of course, is partially paying for the proposed roundabout, essential to a TIF's mission, and which, incidentally, branches into his business complex.

By law, and as directed by authorities controlling a TIF, our selectmen may direct that all taxes paid by the TIF be returned to the developer either as direct subsidy and/or "credit enhancement," as a surety that during its 30-year lifetime, the TIF pays its bills.

In his Register advertisement, Mr. Coulombe tells us this is so. He does not specify which or both of the tax exclusions pertain to him. Our selectmen are best able to provide interested parties particulars which they deem of interest.

Boothbay taxpayers might qualify as interested parties. We seem to have advanced beyond discussions of safety, beauty and economic bonanzas. In a tail-wagging the dog turn of events, we must now re-examine whether we wish to become 30-year partners with Mr. Coulombe and his enterprises.

There is an adage known to smart businessmen: Be sure if you buy something to do it with the other fellow's money.

Paul E. McArdle

Boothbay