2021-03-22-ATM.min - Laserfiche WebLink

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March 22, 2021 Adjourned Session of the 2021 Annual Town Meeting, cont'd... (1) a declaration that management authority over a TID rests with the Select Board or, where more than one municipality is establishing a TID, the municipal executive body of the lead municipality; (2) a designation of the municipal department under whose authority funds may be expended under section 5; provided, that said designation shall reference the applicable program plan and require that all funds be spent in a manner consistent with said plan; (3) a statement describing the methodology used for the calculation of any proposed transit improvement fees pursuant to section 5; (4) a designation of the source of the municipal matching funds and an authorization for the appropriation of said funds.; and (5) a designation, if the transit improvement program is in a TID involving more than 1 municipality, of which municipality shall be the lead municipality for the purposes of managing said transit improvement program. SECTION 3. At any time after the establishment of a TID pursuant to section 2, the district boundaries may be amended by an affirmative vote of Town Meeting or, if the TID involves more than one municipality, an affirmative vote of the municipal legislative body of each participating municipality. SECTION 4. The rights and powers of a TID shall include: developing, managing, and maintaining transit improvement programs; establishing and collecting fees pursuant to section 5; leasing, owning, acquiring, or optioning real property; undertaking collections and enforcement of fines associated with the collection of fees; providing planning and design services; formulating a fee structure; accumulating interest; incurring costs or indebtedness; entering into contracts; suing and being sued; employing legal and accounting services; undertaking planning, feasibility and market analyses; developing common marketing and promotional activities; or engaging in other supplemental services or programs that would further the purposes of this chapter. SECTION 5. (a) A transit improvement fee may be collected and used solely to fund items to further the goals identified and approved in a TID program plan and spent in accordance with the provisions of this act. The transit improvement fee shall be determined by a formula consisting of any combination of the following: (1) different fee levels for varying classifications of real property; (2) a fee based on a percentage of the assessed value provided that the fee cannot exceed 5 per cent of the existing annual tax assessment; (3) a fee per employee; (4) a fee per parking space on the site; (5) a fee per single occupancy vehicle (SOV) trip generated to the site under its current or anticipated use; (6) a fee per residential unit within a multifamily parcel; (7) a fee for service as may be designed to accommodate a specific user or entity; or (8) any other formula that meets the objectives of the TID. (b) A TID may, in the establishment of a fee structure, elect to exempt any or all of the following property types: