Baileyville Town Council Discusses Banking Options

By Kaileigh Deacon

 

Despite the snow, the Baileyville Town Council met for their first meeting of 2018 on Monday evening. The primary topic of discussion was related to the town’s options for banking as it relates to the fiber internet utility and finding a replacement for Machias Savings Bank.

After the meeting was called to order and the warrants and previous meetings minutes were approved, the Council held the third reading of the Shore Land Zone Amendments. With a unanimous vote the Council approved the amendments and signed the papers. 

Town Manager Christopher Loughlin spoke to the council about his work with Julie Jordan, Jim Porter and the Downeast Economic  Development Corporation with regards to the fiber utility coming to the two towns. According to Loughlin, Calais has agreed to finance their portion of the bill through the First Bank in Calais which offered the best interest rates and loan terms. 

The town would receive roughly a 2% interest rate and no loan payments for the first 24 months, only being required to pay the interest. The Town of Baileyville could receive a lower interest rate with the move of their town accounts to The First. The town currently banks with Machias Savings Bank. With the upcoming closure of Machias Savings Bank Baileyville branch the council and Loughlin will look into the possibility of moving their accounts to The First. 

Town Manager Loughlin and Julie Jordan have both been looking into finding a bank to take over the space vacated by the Machias Savings Bank in the Baileyville Shopping Center. Jordan has started conversations with 30 banks that could bring their business to the area that currently don’t have a location here. Loughlin has spoken with the banks in Calais, none of which expressed interest in filling the location when Machias Savings Bank vacates in a couple of months. Machias Savings Bank will be sending a team of people to Baileyville in the next couple of weeks to explain the closure of the Baileyville Branch and what will be involved in the process. No definitive date has been set for the team to come down. 

The council approved the write-off of three water accounts and agreed to send a supplemental tax bill to a property after the removal of homestead exemption. The council also approved the abatement of two water accounts, one of which was a test account and the other being a Town of Baileyville account. 

The Council, Town Manager, and Public Works all agreed to a policy regarding the incidental damage of mailboxes by town plows. As was the previous agreement with the prior town manager, they agreed that the Public Works Department and Town of Baileyville would not be responsible for replacing mailboxes that are damaged by the town plows. 

In their closing comments, each of the Town Councilors agreed that all the departments in the town deserved a big thank you and appreciation for what they do each and every day. Councilor Carl Ripley shared the appreciation he had received for the Baileyville Police officers and all they did with the chase and search leading from Calais to Brookton. 

The next Baileyville Town Council meeting will be held at 5:30 p.m. at the Town Office on January 22.