The Portland Daily Sun, Wednesday, June 8, 2011

Page 1

ly SAVE SAVE 50% 50% D a i D e a l Pay just 60 for a 120 voucher $

$

visit PORTLANDDAILYSUN.ME for this and other great offers

WEDNESDAY, JUNE 8, 2011

VOL. 3 NO. 90

PORTLAND, ME

75 Oak St, Portland, ME 04102

PORTLAND’S DAILY NEWSPAPER

699-5801

FREE

Tentative agreement forged on Thompson’s Point tax breaks BY CASEY CONLEY THE PORTLAND DAILY SUN

Developers of a proposed arena, hotel and conference center on Thompson’s Point would receive property tax breaks worth more than $30 million over the next three decades under a tentative agreement reached with the city. The deal, which has not yet been finalized, would

allow the city to collect an average 46 percent of the new property tax revenue generated by the $100 million project, while developers would retain 54 percent of that new revenue. That translates into about $26.4 million for the city over the 30-year agreement and $31.4 million for the developer. Jon Jennings, a principal in the project to be called

The Forefront at Thompson’s Point, said yesterday that the tax breaks were “crucial” to getting the development off the ground. The tentative agreement, which was hammered out during several weeks of negotiations, will be presented to the city council’s Community Development Committee tonight at 5 p.m. at City Hall. see AGREEMENT page 2

Bishop: Cathedral School to close Last day is June 15 BY CASEY CONLEY THE PORTLAND DAILY SUN

A last-ditch effort by parents and alumni to prevent Cathedral School from closing later this month has fallen short, school officials say, after a potential donation worth up to $700,000 fell through. Without that funding, which was needed to close a $120,000 deficit this year and a projected $200,000 deficit next year, Bishop Richard Malone announced yesterday that the school would shut down June 15. see SCHOOL page 3 Father Louis Phillips, rector at the Cathedral of Immaculate Conception, said he's sorry to see the Cathedral School close. (DAVID CARKHUFF PHOTO)

City’s first hostel could be open by late summer BY MATT DODGE THE PORTLAND DAILY SUN

With the term “hostel” now adopted into city zoning language after Monday night’s city council meeting, one aspiring developer is sharing his plans to open Portland’s first lodging for budget-conscious travelers.

Peter Slayback, a Portland resident with 25 years experience in the hospitality industry, said he hopes to open a 40-bed hostel somewhere in the Arts District by late summer. “I’ve been following the process and learning about what it would mean to allow a hostel at an affordable price in the city,” said Slayback. “With

Killing deemed murder-suicide

‘Manopause’

See News Briefs on page 3

See Maggie Knowles on page 5

[Monday night’s] meeting, it’s like a big ‘phew’ — we can move forward and hopefully there will be no more red tape,” he said. Slayback has been closely following the year-long process of the city enacting a zoning text amendment that will allow for hostels to be established in see HOSTELS page 13

Hot dog! Old Port’s Mark Gatti Treasure Hunters Roadshow See the story on page 8

See the Events Calendar, page 14


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.