Refunds to member communities of the Kennebec Regional Development Authority (KRDA)/FirstPark increased for the second straight year as the result of higher assessed property values within FirstPark. For fiscal year 2018-19, $273,750 was budgeted for the refunds. The actual amount turned out to be $364,547. Treasurer James Jurdak presented the good news to member communities at the July 25 meeting of the KRDA General Assembly with the caveat that such revenues are projected almost two years in advance with little data as to what improvements current property owners are doing.
“As we continue to grow FirstPark, member communities are likely to see a growing revenue stream to their local budgets from their investment 20 years ago in this commerce park,” said Executive Director Jim Dinkle.