|
Execution Version
<br />TAX INCREMENT FINANCING AGREEMENT
<br />BY AND AMONG
<br />THE TOWN OF LEXINGTON,
<br />SHIRE HUMAN GENETIC THERAPIES, INC.,
<br />AND
<br />PATRIOT PARTNERS LEXINGTON, LLC
<br />This AGREEMENT is made this day of October, 2007 by and among the Town of
<br />Lexington, a municipal corporation duly organized under the laws of the Commonwealth of
<br />Massachusetts, having a principal place of business at Town Hall, 1625 Massachusetts Avenue,
<br />Lexington, Massachusetts 02420, acting through its Board of Selectmen (hereinafter referred to
<br />as the "TOWN "), Shire Human Genetic Therapies, Inc., a Delaware corporation with a principal
<br />place of business at 700 Main Street, Cambridge, MA 02139 (hereinafter, together with its
<br />successors and assigns, referred to as "SHIRE "), and Patriot Partners Lexington, LLC, a
<br />Delaware limited liability company, with a principal place of business at 205 Newbury Street,
<br />Framingham, MA 01701 (hereinafter referred to as "PATRIOT ") (collectively the "PARTIES ").
<br />WITNESSETH
<br />WHEREAS, SHIRE intends to expand its administrative operations and construct new
<br />laboratory, office and manufacturing facilities at the Lexington Technology Park on Spring
<br />Street, Lexington, Massachusetts resulting in an estimated capital investment of more than $300
<br />million by December 31, 2013 as further described in the Patriot Way Tax Increment Financing
<br />Plan (the "Expansion Project'); and
<br />WHEREAS, the Expansion Project will be located on several parcels or portions of parcels
<br />owned by PATRIOT. A portion of the Expansion Project is to be built under a long -term lease
<br />between SHIRE and PATRIOT on the following parcels, or portions thereof, owned by
<br />PATRIOT and identified as Board of Assessors Map 18, Parcels 14B, 3C and 413, a 1.88 acre
<br />portion of Parcel 14A and a 17.789 acre portion of Parcel 15 (the "200 Parcel" and the "300
<br />Parcel ", respectively, as shown on Exhibit A). The balance of the Expansion Project will be
<br />located on portions of parcels owned by PATRIOT and identified as a 4.931 acre portion of
<br />Board of Assessors Map 18, Parcel 15 and a 12.003 acre portion of Map 26, Parcel 44D (the
<br />"400/500 Parcel"), shown on Exhibit A as the 400 Parcel ( "the 400 Parcel ", which, together with
<br />the 200 Parcel and the 300 Parcel is referred to herein as the "Site ") under a long term lease
<br />between SHIRE and PATRIOT and /or the subsequent acquisition of the 400 Parcel by SHIRE.
<br />PATRIOT is in the process of subdividing the Assessors Parcels to reconfigure lots lines to
<br />correspond to the 200 Parcel, the 300 Parcel and the 400 Parcel, as described more fully below;
<br />and
<br />WHEREAS, the Site is located within the boundaries of the Lexington Technology Economic
<br />Target Area ( "ETA" as that term is used in Massachusetts General Laws, Chapter 23A, Section
<br />3D); and
<br />
|