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Raynham, Massachusetts.  Incorporated 1731

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TIF Board Minutes 4-14-05


Tax Increment Finance Committee                 Meeting – April 14, 2005

Chairman Gordon Luciano called the regular meeting of the Tax Increment Finance Committee to order at 5:05pm.

Present were Gordon Luciano, Linda King, Carl Carlson, Carol Sullivan and Richard McCarthy.

Mr. Carlson motioned and Mrs. Sullivan seconded to accept the minutes of the March 10, 2005               meeting as printed.  The vote made it unanimous.

Mr. Carlson motioned and Mrs. King seconded to accept the minutes of the March 24, 2005
meeting as printed.  The vote made it unanimous.

Mr. Luciano read correspondence forwarded to the City of Taunton from the TIF Committee regarding the proposed TIF project for Dr. Welter.  Mr. McCarthy explained to the Committee the joint ETA with Taunton and informed that Dr. Welter does have a P & S on the proposed property.  Discussion was made regarding the placement of the project on the Warrant for the Special Town Meeting in May or for the June Town Meeting.  Committee members discussed the proposed TIF Agreement for
7 years at 40% with a mirrored agreement for personal property.  Mr. Carlson stated that this TIF is a short term TIF and is not a real high percentage.  Mr. Sullivan stated that this type of business would attract others and stressed her concerns for presenting it at the May Town Meeting.  Committee members concurred on the proposed TIF Agreement for 7 years at 40% with a mirrored agreement for personal property.  Mrs. Sullivan motioned and Mr. Carlson seconded to redraft the proposed TIF Agreement for 7 years at 40% with a mirrored agreement for personal property along with placement at the Town Meeting upon discretion of the Chairman.  The vote made it unanimous.

Correspondence – The Committee received a request to add one additional seat to the TIF Committee.  The request was for the Chairman or designee from the Finance Committee to serve on the TIF Committee.  Committee members agreed to the request for an additional seat.  Mr. Luciano stated that correspondence would be forwarded to the Board of Selectmen asking them to appoint one additional member from the Finance Committee to the TIF Committee effective July 1, 2005.

Correspondence – The Committee received from Mastria Subaru information regarding their agreement for 50% of the TIF Agreement to be given back to the Town of Raynham.  Mr. Carlson motioned and Mrs. Sullivan seconded to amend Mastria Subaru TIF Agreement with the requested 50% gift back to the Town of Raynham and for all rights to be waived for personal property.  The vote made it unanimous.

Mr. Luciano discussed the changes to the TIF Committee Guidelines.  Committee members concurred to table discussion until the next scheduled meeting.

6:10pm - Mr. Carlson motioned and Mrs. Sullivan seconded to Adjourn.  The vote made it unanimous.

Respectfully submitted,


Dawn M. Caradonna
Recording Secretary




 
Town of Raynham 558 South Main St., Raynham, MA 02767
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