In a recent meeting, the Gardiner City Council granted a local business owner's request for tax relief on a new building designed to showcase an extensive collection of vintage automobiles. The facility, spanning 52,000 square feet, will house over 200 antique cars under the ownership of Peter Prescott, proprietor of PEP Classic Cars. This decision has sparked both support and controversy among residents, with some questioning the fairness of the arrangement. The agreement involves a tax increment financing (TIF) plan, allowing Prescott to receive a portion of the property taxes paid back annually over a decade.

The project, which is part of PEP Classic Cars, aims to preserve and display a significant automotive heritage. According to the proposal submitted to the city, this impressive structure will safeguard what is referred to as the "Prescott Collection of Cars." The facility will operate by appointment only, ensuring a controlled and exclusive viewing experience. Under the TIF agreement, Prescott would pay approximately $84,000 in annual property taxes but receive $30,000 back each year for ten years. Supporters argue that this deal benefits the community by preventing the need for non-profit status, which could have led to no tax contribution from the company.

However, not everyone shares this view. Some residents, like Delia Lundsford, expressed concerns about the fairness of the arrangement. She pointed out that while ordinary taxpayers contribute their share, it seems inequitable for a wealthy individual to receive such substantial tax breaks. Lundsford emphasized the financial struggles faced by many residents and questioned whether the benefits truly outweigh the costs. Despite these reservations, the mayor believes the agreement is mutually beneficial, ensuring tax revenue for the city without imposing undue burdens on the business.

The approval of this tax incentive highlights the ongoing debate between supporting local businesses and maintaining equitable tax policies. While the arrangement ensures that PEP Classic Cars contributes financially over the next three decades, it also raises questions about the distribution of tax responsibilities within the community. Ultimately, the council's decision reflects a balance between fostering economic development and addressing public concerns.