HomeMy WebLinkAbout2007-10-10 Motion under Article 2TOWN OF LEXINGTON
MOTIONS
2007 Special Town Meeting
(Article 2)
(October 17, 2007)
Article 2 APPROVE TIF AGREEMENT(S)
MOTION: That the Town: (a) approve the fundamental terms and conditions, including but
not limited to the tax exemption schedules contained therein, of the Tax
Increment Financing ( "TIF ") Agreement executed by the Board of Selectmen,
Shire Human Genetic Therapies, Inc ( "Shire ") and Patriot Partners Lexington,
LLC ( "Patriot Partners ") and dated October 17, 2007 ( "TIF Agreement "); (b)
confirm the Board of Selectmen's designation of the location of the Patriot Way
Economic Opportunity Area, (c) approve the Tax Increment Financing Plan dated
October 16, 2007, and authorize the Selectmen to make minor modifications to
these documents prior to submission to the Massachusetts Economic Assistance
Coordinating Council ( "EACC "); (d) authorize the Board of Selectmen to execute
any other documents related to and consistent with the TIE Agreement and submit
such documents to the EACC; and (e) authorize the Board of Selectmen to take
action to enforce or terminate the TIE Agreement, including requesting that
EACC decertify the TIE Plan, in the event that Shire and /or Patriot Partners fail to
substantially comply with the TIE Agreement as determined by the Board of
Selectmen.
(10/17/07)
{A00451131 }