SKOWHEGAN, Maine (AP) — The Skowhegan Board of Selectmen has voted to approve an agreement with Sappi Fine Paper Co. that caps the value for taxation at the company's mill at $380 million.
The Morning Sentinel reports (https://bit.ly/1UEJJyT ) that officials say Wednesday night's unanimous vote was a compromise to retain jobs and end disagreements between the two parties that had existed for months.
In exchange for the town manager's signature on the agreement, Sappi will withdraw its tax abatement requests against the central Maine town for the years 2014 and 2015.
The compromise represents an agreed upon $64 million in reduced value for taxation beginning in the coming fiscal year.
Selectboard Chairman Donald Skillings says the agreement is the best way for Sappi to remain operational while keeping Skowhegan's largest taxpayer in place.
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Information from: Morning Sentinel, https://www.centralmaine.com/
