Coulombe guarantees bond
In a recent town hall forum on ways to capture the increased property tax revenue generated by the expansion of the Boothbay Harbor Country Club, Southport resident Paul Coulombe made a promise.
The club owner said if the town sells a $2.5 million bond (to be paid for by the increased property taxes from the club) he would agree to pay it off, if, for some reason, he did not make the $26 million or so in improvements that he has promised.
Coulombe said he has already spent approximately $11 million on the golf course and expects to spend an additional $16 million on a new clubhouse.
This will generate about $179,000 a year in new taxes, according to Boothbay’s town manager Jim Chaousis. It is more than enough to make the annual payments on the bond.
On October 24 Coulombe went even further to back up his promise.
“In the public meeting which I attended, some citizens wondered if the course improvements would still be made if I should die. Now, I wonder if they knew something I didn’t know, but I wanted to cover all the bases, just in case,” he said in a phone interview.
“I have made arrangements, so if something would happen to me, my family foundation will still build the clubhouse and continue to run the club for 20 years after my death,” he said.
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