CARRABASSETT VALLEY — Voters will be asked Wednesday to consider a nearly $3.6 million budget for 2025 and whether to build a nine-hole golf course on 37 acres donated by Sugarloaf resort. The town meeting will start at 6:30 p.m. at the Sugarloaf Outdoor Center at 3001 Outdoor Center Road. Prior to that, election of officers will be held from 8 a.m. to 6 p.m. at the Town Office at 1001 Carriage Road. All incumbents are up for election to three-year terms and none have challengers, Town Clerk Wendy Russell said. They are Selectmen Robert “Bob” Luce and Lloyd Cutler; School Committee members Stephen Arner and Erin Demshar; and Sanitary District Trustees James Benoit and Brian Demshar. The proposed budget is a nearly 13% increase over last year. With anticipated revenue estimated at $773, 214, the amount is $2.8 million, according to information provided by Town Manager Garrett Corbin. If passed as written, the property tax rate is estimated at $4.62 per $1,000 of assessed value, an increase of 32 cents from 2024. If the golf course is approved, the estimated tax rate would be $4.97 per $1,000 of property value. Among the 34 warrant articles, is one asking voters to accept land from Suglarloaf to build a “new world-class nine-hole golf course that is more accessible to play at all ages and ability levels than the existing 18-hold course,” according to Corbin’s information. Along with the course design, the Planning Board has also permitted the integrated snowmaking pond facilities that Sugarloaf would pay for at an amount comparable to the town’s contribution to developing the course, Corbin wrote in message to voters. The article authorizes the Select Board to obtain a 20-year general obligation bond with principal up to $6 million at a proposed term of 20 years and an interest rate beginning at 3.43%. Interest is estimated at $2.96 million. The estimated annual debt service of $448,221, if approved, would result in an estimated property tax increase of up to to $4.97. Over four years of planning have been dedicated by Sugarloaf and town officials to this opportunity, which is anticipated to provide enhanced economic development outside of the ski season, Corbin wrote. The proposal is recommended by the Select Board and Greens Committee, he said. Other articles include adopting a West Mountain Tax Increment Financing District and program. A public hearing on it is set for 4:30 p.m. Monday at the Carrabassett Valley Public Library at 3209 Carrabassett Drive. TIFs are a method authorized in state law to devote new tax revenues from new construction to specific projects, Corbin wrote in his explanation about the proposal. TIF policy is typically intended to help incentivize development that might not otherwise occur. Because the town continues to benefit from development even without a TIF, the Select Board is not exploring a TIF for its ordinary purpose. “The board is interested in creating a TIF District in an effort to shelter these new values from (Franklin County) taxation, thereby helping to protect local property taxes from increases to county taxes,” Corbin wrote. Over the 30 years, this is anticipated to save Carrabassett Valley nearly the equivalent of a full year of the county assessment, which is currently $1.6 million. The proposed district includes development underway off West Mountain Road and down to the s0-called Boneyard on state Route 27, which is adjacent to the north and south branches of the Carrabassett River. It would be about 262 acres. The town proposes to use the funds from the TIF to provide financial support to a number of economic development projects and programs. Those would include town facilities, trail improvement and housing. If the TIF is approved, the percentage of new taxes to be captured each year over the 30-year term is 100%, according to Corbin’s information.