According to the article, it is TIF.
The basic concept is the property values/development will grow to cover the cost of the expenditures plus add to the city tax base over time.
I believe the downtown was an attempt to use federal funds... but that fell through.
I don't see it adding to the downtown... as plenty of restaurants exist; but I don't fully understand the advantage of the backstage to the Colonial... so maybe.
I presume if the restaurant is better than average, that Colonial patrons will simply make reservations and dine next door. But my presumption is that would deplete other downtown establishments of their patronage and have a net zero outcome.
I think in this case, the feeling is the area can handle more lake access to increase the number of patrons that may be limited by the traffic on the roadway. And that the boating population is likely higher income, and can handle more ''upscale'' costs than a ''blue collar'' crowd.
Is Wolfeboro more ''upscale'' than Meredith or Laconia?
I only have reference to the few times that I have dined on that side of the lake.
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