2013-05-09-AC-min - Laserfiche WebLink

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May 9, 2013 Minutes Hartwell Avenue, and one location in Woburn. The company is licensed in Europe to generate gene therapy drugs and is pursuing a Federal Drug Administration license. If it decides to locate its manufacturing operations in the US, it will need a facility with 35,000 - 50,000 square feet of space, of which 14,000 square feet must have 24 -foot ceilings to accommodate the manufacturing component. The height requirement would require raising the roof at 113 Hartwell or constructing an addition onto the building at 17 Hartwell. The build -out costs are estimated at $10 -15 million; construction will take six to nine months. The facility would be staffed at a relatively low density with approximately 100 employees earning salaries in the range from $45,000 to $95,000 annually. Mr. Valente explained that this situation will evolve quickly. The uniQure board is expected to vote on Monday, May 13, on whether to pursue a manufacturing facility in the U.S. If it votes in the affirmative, the goal will be to have the facility operational by early 2014. Mr. Valente distributed copies of a letter from the Board of Selectmen to the U.S. representative of uniQure expressing support of discussions regarding a TIF agreement. The letter explains that such an agreement requires approval by Town Meeting, so the Selectmen have tentatively scheduled a special town meeting for June 17, 2013. Mr. Valente noted that Woburn's City Council, which meets every two weeks, could approve a TIF in very short order. He added that an approved TIF opens the door to other grant opportunities for a business, such as those associated with the Mass. Office of Business Development. Mr. Valente noted that Hartwell Avenue currently has a vacancy rate of approximately 35 %, and that 17 Hartwell Avenue is currently vacant. State grants may be increased when a company leases space in a vacant building. He also noted that this is a good time to seek state aid for infrastructure improvements. In response to questions, Mr. Valente said that at both Hartwell Avenue locations, a new tenant may incentivize the property owner to expand and /or upgrade facilities on their properties. Mr. Addelson explained that assessments for tax purposes are affected indirectly by the overall vacancy rate for business properties in the region; the assessment of an individual property is not set based on its occupied /vacant status. There are different assessment categories, and a lease with uniQure would likely lead to a change in the assignment of the leased building to a category with generally higher values. Mr. Valente noted that the Town hopes to make substantial infrastructure improvements in the Hartwell Avenue area, which would likely be funded with both state and Town money. Mr. Bartenstein urged that a cost - benefit analysis of such improvements be conducted, laying out the expected costs to the Town and anticipated revenue increases, over 10 to 20 years. Mr. Valente said that about six years ago the town completed a build -out study of Hartwell Avenue, but it didn't include the tax revenue impact. Mr. Valente reported that uniQure is planning to meet with the Selectmen on May 20. He invited the Appropriation Committee to assign one or more liaisons to work with the Town during negotiations with uniQure. 2