2017-05-17-EDAC-min - Laserfiche WebLink

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Town of Lexington Economic Development Advisory Committee (EDAC) Minutes of Meeting May 17, 2017 A meeting of the EDAC was held on Wednesday, May 17, 2017 at 8:00 a.m. in the Parker Room of the Town Office Building. Members Present: George Burnell, Rick DeAngelis, John McWeeney, David Pronchick, Sig Tullmann, Narain Bhatia, Kevin McGuire, Charles Minasian, and Larry Smith Staff Present: Melisa Tintocalis Liaisons Present: Charles Hornig, Joe Pato Members Absent: Tom Dusel MOTIONS Moved to approve April 19, 2017 minutes ACTION ITEMS 1.Send out Economic Development Summit Information to EDAC members MEETING NOTES Data for Economic Development Summit Melisa Tintocalis reported on the Economic Development Summit presentation efforts and the meetings with the sub-committees members Kevin Maguire, Charlie Minasian, Sig Tullmann, and George Burnell. The sub-committee had met twice to develop content for a presentation to the Board of Selectmen and Planning Board on the commercial environment in Lexington. Ms. Tintocalis reviewed some of the initial data that staff complied for the sub-committee’s review including a history of CIP and residential assessed values as a percent of tax levy and in absolute dollars; capital financing plan over the next five years; tax rate; new growth values for CIP and residential and current zoning map. Mr. DeAngelis recommended the ED Summit discussion include how the Town can encourage infill redevelopment on existing sites. Mr. Burnell suggested that the ED Summit should convey the need for commercial development that complements the character of the community. Narain Bhatia expressed concerns on traffic and congestion, and noted as a Town Meeting member, his sense was that Town Meeting would want to know how additional commercial development and the associated traffic impacts could be mitigated. The committee members requested that property owners be invited to the ED Summit and Mr. Pronchick requested the agenda of the Economic Development be sent to the EDAC group. DIF for Hartwell The MassDevelopment representative was not able to attend. However, Ms. Tintocalis reviewed the mechanics of a District Increment Financing and how it could apply to the Hartwell district.