Tax Increment Finance Committee Meeting – February 24, 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, Linda King, Carl Carlson, Raymond Platt, and Richard McCarthy.
Mr. Platt motioned and Mr. Carlson seconded to accept the minutes of the February 10, 2005 meeting with the following amendment: Page 2, paragraph 2 - Mr. Platt informed all that Baron Brothers maybe interested in moving their furniture showroom to Raynham and may be interested in a TIF Agreement. Mr. Lewis will contact accordingly. Also, page 1 – C.H. Babb Company representative Charlie Foran. The vote made it unanimous.
Mr. Luciano presented Committee members will copies of the Investment Tax Credit and the Annual Report for the Town Warrant.
5:20pm – C.H. Babb Company, Inc. – Mr. Foran was present and presented the Committee with a proposed TIF Agreement for 10 years. All Committee members approved the agreement for 10 years with a discussion to follow for TIF Tax Exemption percentages.
All Board members concurred to hold and Executive Session at this time.
Mr. Platt stated he would like to see this agreement at 25% for all 10 years. Mr. Foran stated that they are a manufacturing company and do not receive many tax incentives. Mrs. Sullivan agreed that this is very unique business for Raynham. Mr. Platt stated that he would also consider a 20-year agreement with percentages of 25% for all the years. Mr. Carlson stated that he would consider an agreement for 15-20 years with a higher percentage. Mr. Platt motioned and Mr. Carlson seconded to continue discussion with Mr. Foran regarding C.H. Babb Company, Inc. proposed TIF Agreement at the next TIF Committee meeting on March 10, 2005. The vote made it unanimous.
5:30pm – closed Executive Session.
5:30pm - 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 presented the Committee with a letter from the Town of Berkley, which states that the Town of Berkley authorizes the Town of Raynham to negotiate in good faith a TIF Agreement with Mastria. Mr. Gudas stated that Mastria Nissan would be proposing a 10-year TIF Agreement. Mr. Platt motioned and Mrs. Sullivan seconded to approve the proposed Mastria Nissan TIF Agreement to be presented at the Town Meeting in May. The vote made it unanimous.
Mastria Subaru Dealership – Present was Mr. Mastria and Anthony Gudas. Mr. Luciano suggested that Mastria forward correspondence with information regarding the dealership employees. Discussion was made regarding the tax incentive give back to the Town from Mastria Subaru.
Mr. Gudas stated that at the time of the TIF application, Subaru was not under construction.
Mr. Carlson agreed that Raynham has many car dealerships, but Mastria Subaru will be bringing in new jobs. Mrs. Sullivan stated that the Committee should not always be asking for the business to give back their tax incentive. Mr. Platt concurred that he could not ask for a pay back from this business. Mrs. King concurred with all Committee members. Mr. Platt motioned and Mr. Carlson seconded to approve the proposed Mastria Subaru TIF Agreement to be presented at the Town Meeting in May. The vote made it unanimous.
Mr. McCarthy informed that an interest was received from Well Care Primary Care Associates, who would like to build a medical complex located in the Industrial Park. Mr. McCarthy informed that they also have a facility located in Taunton and this would be an expansion not relocation. Mr. Platt motioned and Mrs. King seconded to ascertain a TIF Agreement from Well Care Primary Care Associates and to extend an invitation to the next TIF Meeting on March 10, 2005. The vote made it unanimous.
Mr. Luciano informed all members that the Board of Selectmen would need to review the by-laws in March to be placed on the Warrant for the Town Meeting in May.
6:12pm - Mr. Platt motioned and Mrs. Sullivan seconded to Adjourn. The vote made it unanimous.
Dawn M. Caradonna