Tax Increment Finance Committee Meeting – February 10, 2005
Chairman Gordon Luciano called the regular meeting of the Tax Increment Finance Committee to order at 5:00pm.
Present were Gordon Luciano, Carol Sullivan, Henry Ellis, Linda King, Carl Carlson, Raymond Platt, and Richard McCarthy.
Mastria Nissan Application – Present was Mr. Mastria and Anthony Gudas, representative for Mastria. Mr. Gudas informed the Board that they met with the Town of Berkley to request their approval of a Nissan dealership in Raynham. Mr. Gudas stated that a decision from the Town of Berkley would be given to Mastria at the next meeting on February 16, 2005.
Mastria Subaru Application – Mr. Gudas stated that an application was recently forwarded to the TIF Committee for a Subaru dealership in Raynham. Mr. Mastria and Mr. Gudas informed the Board of the construction costs and the locations of both buildings. Mr. Ellis commented on the percentage figures submitted and stated that he would like to see even percentages, 20%, for all the years.
Mr. Gudas stated that the higher percentage, 25%, would aid in the prior costs occurred during preparation of the land. Mr. Platt concurred with Mr. Gudas with the higher percentage at the beginning of the agreement. Mr. Carlson asked if the number of employees would increase and would the two dealerships share them. Mr. Mastria stated that the only employees shared would be 4-5 managers and a Human Resource employee. Mr. Mastria stated that the Subaru dealership would employee approximately 25 new employees with an increase of up to 40 within two years. Mr. Lewis was present and asked if Mastria would be giving any of the TIF funds back to the Town of Raynham. Mr. Gudas informed that they would not be due to the cost occurred for construction. Mr. Luciano asked for a complete package for the Subaru dealership to be forwarded to the Committee, which will be reviewed and discussed at the next TIF meeting.
C.H. Babb Company Application – Present was Charlie Foran. Mr. Foran informed the Board that C.H. Babb Company is a manufacturer of tunnel ovens. Mr. Foran stated that C.H. Babb Company would like to add an addition on to the existing building, which would serve the purpose of an R & D Lab. Mr. Foran supplied the Board with a TIF proposal for 20 years and stated the project would cost between $550,000 to 800,000. Mr. Luciano asked the Board for their concurrence in offering a TIF to
C.H. Babb Company. Board members concurred in proceeding with a TIF for C.H. Babb Company.
Board members reviewed the proposal given and suggested that Mr. Foran forward a complete package for a 10 year TIF agreement to the Committee, which would be discussed at the next TIF Meeting.
All Board members reviewed the original guidelines for the TIF Committee. Mr. Luciano suggested that all members review and forward any suggestions for changes to Mr. McCarthy prior to the next meeting.
All Board members reviewed the original by-laws for the TIF Committee. Mr. Luciano suggested that all members review and forward any suggestions for changes to Mr. McCarthy prior to the next meeting.
Mr. Luciano made discussion on who would issue tax bills for exemptions. Board members concurred to table this discussion for a later date.
Mr. Luciano informed that Schwan has officially signed the TIF Agreement.
Mr. Luciano asked the members of the Committee to schedule the next two meeting dates.
The Committee agreed upon Thursday, February 24, 2005 at 5:00pm and Thursday, March 10, 2005
Mr. Platt informed all that Baron Brothers maybe interested in moving their furniture showroom to Raynham and maybe interested in a TIF Agreement.
6:20pm - Mr. Platt motioned and Mrs. Sullivan seconded to Adjourn. The vote made it unanimous.
Dawn M. Caradonna