HomeMy WebLinkAbout2007-07-19-AC-min
July 19, 2007
Minutes
Town of Lexington Appropriation Committee
July 19, 2007
Place and time: Town Office Building, Room G-15, 7:30 pm
Members present: Alan Levine (Chair), Deborah Brown (Vice-Chair), Richard Eurich,
Pam Hoffman, Susan McLeish, Eric Michelson, Rob Addelson (ex officio, non-voting).
Others present: Jeanne Krieger, Gloria Bloom, Susan Yanofsky, Tom Griffiths, Carl
Valente
The meeting was called to order at 7:45 pm with a quorum present. Alan Levine
welcomed new committee member Susan McLeish.
Sole agenda item: TIF policy and Shire. Specifically, discussion of staff’s draft TIF
policy document and some of the specifics of the Shire project.
Resources: (1) Alan Levine’s revised TIF policy points (document distributed by email);
and (2) staff’s original draft TIF policy document.
Discussion:
Jeanne Krieger reported that BOS made minor tweaks to staff’s draft TIF policy
document but agreed in concept (no vote taken).
Susan Yanofsky (Town’s new Economic Development Officer) described TIF
authorization process, beginning with application to State for designation as an Economic
Target Area for technology, then designation of particular census tracts as Economic
Opportunity Areas. BOS has authority to authorize these steps and they have been taken.
TIF agreement then is negotiated between the Town and Shire. This agreement then
must be voted by Town Meeting and then submitted for State approval. Susan reported
that State officials have indicated that they will not look kindly on a proposal that offers a
minimum TIF.
Jeanne Krieger described Peter Enrich’s argument against State incentives as a
general policy; he says it is highly debatable that multi-million-dollar companies base
location decisions on this relatively small incentive.
Carl Valente and Susan Yanofsky described various incentives that State may
provide to Shire if TIF granted. State can also provide Town with infrastructure money.
st
Carl Valente described timetable: BOS decision on July 31 re whether or not to
consider a TIF, end of August deadline to have proposal to present to Shire, concluding
th
negotiations with shire by Sept 15, then Town Meeting in early October if agreement
with Shire reached.
- 1 -
July 19, 2007
Rob Addelson discussed some preliminary estimates of Shire’s planned
investment in Lexington.
Eric Michelson asked additional questions about what incentives/grants the State
might provide to Lexington so he can evaluate what we’re giving up in tax revenue vs.
what we might gain.
Deborah Brown questioned the references in the staff draft TIF policy document
to employment and income thresholds. Why is this suggested as one of the Town’s
criteria for granting a TIF? And why such specificity in this draft document?
Alan Levine briefly reviewed his TIF policy points document. Carl agreed to
incorporate some of these concepts, and other suggestions made, in the next draft.
The meeting was adjourned at 10:00 p.m.
Respectfully submitted,
Deborah Brown
Approved November 13, 2007
- 2 -