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2007-10-10 Motion under Article 2
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2007-10-10 Motion under Article 2
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TOWN OF LEXINGTON <br />MOTIONS <br />2007 Special Town Meeting <br />(Article 2) <br />(October 17, 2007) <br />Article 2 APPROVE TIF AGREEMENT(S) <br />MOTION: That the Town: (a) approve the fundamental terms and conditions, including but <br />not limited to the tax exemption schedules contained therein, of the Tax <br />Increment Financing ( "TIF ") Agreement executed by the Board of Selectmen, <br />Shire Human Genetic Therapies, Inc ( "Shire ") and Patriot Partners Lexington, <br />LLC ( "Patriot Partners ") and dated October 17, 2007 ( "TIF Agreement "); (b) <br />confirm the Board of Selectmen's designation of the location of the Patriot Way <br />Economic Opportunity Area, (c) approve the Tax Increment Financing Plan dated <br />October 16, 2007, and authorize the Selectmen to make minor modifications to <br />these documents prior to submission to the Massachusetts Economic Assistance <br />Coordinating Council ( "EACC "); (d) authorize the Board of Selectmen to execute <br />any other documents related to and consistent with the TIE Agreement and submit <br />such documents to the EACC; and (e) authorize the Board of Selectmen to take <br />action to enforce or terminate the TIE Agreement, including requesting that <br />EACC decertify the TIE Plan, in the event that Shire and /or Patriot Partners fail to <br />substantially comply with the TIE Agreement as determined by the Board of <br />Selectmen. <br />(10/17/07) <br />{A00451131 } <br />
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