Developer of Portland's 'midtown' project drops pursuit of $4.3 million Maine tax break

December 18, 2015

Criticism such as Fecteau’s has been heard since 2000, when Congress created the federal New Markets Tax Credit program, upon which Maine’s program is based, said Julia Sass Rubin, a professor at Rutgers University’s Edward J. Bloustein School of Planning and Public Policy.

The federal and state programs are designed to funnel investment into projects in low-income areas that wouldn’t otherwise receive investments, but there’s really no way to prove whether a project would happen with or without the tax credit financing, Rubin said.

“The problem is the program can’t be monitored. You have almost no way of knowing if the deals would have happened anyway,” she said.

Portland Press Herald, December 18

Recent Posts

NJSPL – New Jersey Employment Concerns Revisited

As 2024 began with yet another surprisingly strong jobs report for the U.S. (353,000 jobs added in January and the unemployment rate steady at 3.7%), and with a full year’s worth of 2023 state-level employment data now available, it’s worth briefly revisiting some of...

New Research: The Traffic Calming Effect of Delineated Bicycle Lanes

Abstract We analyze the effect of a bicycle lane on traffic speeds. Computer vision techniques are used to detect and classify the speed and trajectory of over 9,000 motor-vehicles at an intersection that was part of a pilot demonstration in which a bicycle lane was...

Upcoming Events

Event Series CAREERS

Career Virtual Drop-ins

Virtual

Bloustein Career Development Specialists Cheryl Egan and Andrea Garrido will be in a Zoom Room on Monday's beginning January 22, 2024 (excluding holidays and spring break) to answer questions, provide […]