MADAWASKA, Maine — Madawaska will hold a special town meeting on Sept. 23 to authorize borrowing up to $750,000 through a bond to help fund revitalization projects at the mid-town plaza on Main Street.
The town has already received over $4 million in funding for the projects, with $2 million in federal funding via Congressionally Directed Spending and another $2 million grant via the U.S. Economic Development Administration.
This funding, in addition to the bond, will help the town revitalize the plaza through water and sewer upgrades and creating a space for entrepreneurs, small businesses and artists by transforming a vacant Subway restaurant. A farmer’s market spot currently exists at the plaza, and this will be renovated to include public bathrooms, room for food trucks and electric vehicle charging stations.
Work on the lot will also include making ADA-compliant sidewalks, and rebuilding the parking lot and entrances from Main Street and Seventh Avenue.
It will also feature two medical facilities, with both Fish River Rural Health’s new 30,000 square foot facility and the Acadia Medical Mall — a facility owned by Northern Maine Medical Center that will open in the plaza’s former Kmart building.
This funding, if approved, will allow the town to complete the mid-town revitalization projects.
According to the special town meeting warrant, the town has a total of $3.4 million in outstanding bonds. The total, if approved at the town meeting, will be $4.2 million
This would be paid over a maximum of 20 years with estimated annual payments ranging between $37,205 to $67,771. The estimated maximum interest rate is 5.26% with a total estimated interest of $359,958.
The meeting will be held at the Madawaska Middle-High School Library on Sept. 23 at 6 p.m.
