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HomeMy WebLinkAbout2017-06-21-EDAC-min Town of Lexington Economic Development Advisory Committee (EDAC) Minutes of Meeting June 21, 2017 A meeting of the EDAC was held on Wednesday, June 21, 2017 at 8:00 a.m. in the Parker Room of the Town Office Building. Members Present: George Burnell, Rick DeAngelis, John McWeeney, Sig Tullmann, Narain Bhatia, Kevin McGuire, Charles Minasian Staff Present: Melisa Tintocalis Liaisons Present: Charles Hornig, Joe Pato Members Absent: Tom Dusel, David Pronchick MOTIONS Motion to Approve Minutes from May 17, 2017 was postponed to the following meeting MEETING NOTES Review Data for Economic Development Summit Melisa Tintocalis walked through the draft presentation prepared for the Economic Development Summit scheduled for June 22, 2017 as a joint meeting with the Board of Selectmen and Planning Board. Rick DeAngelis suggested that Town has many remaining barriers to development and that there remains a perception in the development community that the Town of Lexington is a difficult place to get a project accepted. Mr. DeAngelis referenced the experiences that Boston Properties has had with regard their Spring Street property and their efforts to enhance an existing building and repave an existing parking lot to attract new tenants. George Burnell suggested the Town needs to make community-appropriate adjustments to their regulatory process to allow for reinvestment. Mr. Burnell stated that there is no gold mine found in one effort that will yield to a notable increase in commercial property tax revenue, but rather the Town should consider smaller incremental efforts which could yield some silver. Mr. DeAngelis added that the Town needs to reinvent its commercial areas. He stated that the current stock of buildings is obsolete and the commercial areas need to be reimagined. Charlie Minasian noted that his sense is that Planning Board and Board of Selectmen are coming from two different places with regard to taking action and creating commercial opportunities for the Town. Visitor Center Project Status Ms. Tintocalis reported that the project was proceeding and could serve lead to additional investment in the Center. Adjournment: The meeting adjourned at 9:50 a.m. th Next Meeting: August 16 2017 (tentative) Approved on: Aug. 16, 2017