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

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March 22, 2021 Adjourned Session of the 2021 Annual Town Meeting, cont'd... that includes a review of the anticipated costs to continue said service. If continuance is sought, a public hearing shall be conducted on the TID's desire to continue service and a renewal of the authorization shall be approved by Town Meeting in a manner consistent with the authorization set forth in section 2. SECTION 9. A TID may be dissolved by petition to the Select Board and a subsequent decision by Town Meeting to authorize dissolution, or a TID may be dissolved upon request by the Town Manager for a dissolution vote by Town Meeting. If the TID involves more than one municipality, said petition or request must be made in the lead municipality. In order to be considered by Town Meeting, a petition to dissolve a TID shall contain the signatures of the fee-paying property owners whose properties represent at least 51 per cent of the total assessed value within the TID and at least 51 per cent of the fee-paying property owners within the TID. The Select Board shall hold a public hearing within 30 days of receipt of a completed dissolution petition. Following the public hearing, the Select Board shall then refer the matter to Town Meeting which by vote of a majority may then determine the TID dissolved; provided, however, that no TID shall be dissolved until it has satisfied or paid in full all of its outstanding indebtedness, obligations, and liabilities, or until funds are on deposit and available therefor, or until a repayment schedule has been formulated and municipally approved therefor. The TID shall be prohibited from incurring any new or increased financial obligations after its dissolution. Upon the dissolution of a TID, any remaining revenues derived from the sale of assets acquired with fees collected shall be refunded to the property owners in the TID in which fees were charged by applying the same formula used to calculate the fee in the fiscal year in which the TID is dissolved. In the event Lexington desires to withdraw from a TID involving more than one municipality, it may, by petition containing the signatures of the fee-paying owners whose properties represent at least 51 per cent of the assessed value within the TID and at least 51 per cent of the fee-paying property owners within the district, seek a dissolution vote from Town Meeting. If Lexington is not the lead municipality, upon such approval from Town Meeting, Lexington shall then also receive an affirmative vote of the lead municipality's legislative body, in order to effectuate the withdrawal. 7:56 p.m. Representative Ciccolo presented the motion to petition the General Court to amend legislation to allow Lexington to authorize transit improvement districts (TIDs). She stated that it presented an opportunity for public/private initiatives that would be a model for the State. 8:03 p.m. Mark Sandeen, member, Select Board, reported the unanimous support of the Board and made a brief statement. 8:05 p.m. Robert Peters, Vice-Chair, Planning Board, reported the unanimous support of the Planning Board, (5-0). 8:06 p.m. Members posed a series of questions including the specifics of State approval and timing, the applicability TIDs to certain areas of Town, the application of taxes to commercial properties, condominiums and apartments, exemptions and their administration, and the impact on current transportation services. 8:41 p.m. Marsha Baker, Pct. 7, called the question. 8:41 p.m. With no further questions, the Moderator called for the vote. 8:46 p.m. Following remote electronic vote tallying, the Moderator declared the Article 26 Adopted on a vote of: Yes No Abstain 190 1 2 8:47 p.m. The Moderator declared the Meeting open under Article 35.