MACHIAS – Many Machias residents are talking this week about Machias Savings Bank’s just-announced plans to tear down an historic downtown landmark it owns, the Emporium Building on Main Street, and replace it with new office space.

The construction, which would take place in 2005, also involves the acquisition and possible expansion of a downtown parking lot to make room for bank workers in the 40 new offices.

Getting the project accomplished with the town’s support for a Tax Increment Financing district was originally going to be the topic of a public hearing this evening in advance of tonight’s annual town meeting at 7 p.m. at Machias Memorial High School.

But Town Manager Christina Therrien realized late last week that postponing the hearing to July 12, followed by a vote at a special town meeting that evening, was a better plan.

Instead, tonight’s meeting will involve the standard business of town meetings.

Among the articles residents will consider is whether to spend $99,000 to renovate the high school. They also will vote on raising $215,367 for public works, $203,509 for the police department, $199,638 for administration and $110,070 for town utilities.

Overall, the town seeks to raise $1,867,734, through taxes, a 5.57 percent increase over last year.

Although three items on the warrant are specific to the proposed TIF, they will not be voted on tonight in order to give residents time to understand the impact of what Machias Savings Bank wants to do.

The bank has prepared a four-page handout that will be available tonight that explains how a TIF works and how the town’s downtown might be improved if the residents echo the recommendation of the selectmen.