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HomeMy WebLinkAboutIndustrial Development Commission Minutes 4/29/2004,r MANSFIELD INDUSTRIAL DEVELOPMENT COMMISSION MEETING MINUTES FOR APRIL 29, 2004 Present: Jay Barrows, Alan Clapp, Tom Flanagan, Rich George, TomiPr'cstowicliJ Tdnj' 'l' Stevens; guests: Maria Correia, Mansfield Holiday Inn; John D'Agostino, Town Manager Members discussed presentation WS Development representative made at Chamber of Commerce breakfast this morning, about the Golden Triangle development proposal. The Proposed retail development includes addition of large store Kohl's and Barnes & Noble. Lou Masiello, who gave the presentation, is interested in attending a future IDC meeting to advise on status of his efforts. Mr. Stevens provided an update to the IDC on the work of the TIF Committee. Discussion of the Tax Increment Financing agreement process. Mr. Stevens advised that the experiences of towns like Dartmouth who have already followed the process were being reviewed for guidance. Mr. Stevens pointed out that even if the a company were to be given a modest tax incentive by the town to encourage the expansion or relocation of its operations to Mansfield, that company is then qualified to apply to the state for additional 5 per cent tax incentive. Therefore, by use of this TIF process, the town can provide strong incentive to businesses, with a relatively slight effect on local tax receipts. Mr. Stevens recounted the discussions among TIF Committee members regarding which types of companies the town wants to attract; while it is important for Mansfield to foster its reputation as a business - friendly community that promotes mutually beneficial relations with local businesses, some take the view that tax breaks shouldn't necessarily be extended to businesses already coming to Mansfield anyway, or to businesses which are not desirable for the town. An article on Medco's potential TIF agreement with the town is on the warrant for the Town meeting in May. It was agreed that IDC members should be present to support Article 41 on the floor, if necessary. IDC members agreed that passage of the article would be an important step toward promoting Mansfield as a business - friendly community. Mr. Clapp reported back on local /regional advertising alternatives to promote Mansfield in. The New England Real Estate Journal and the Boston Business Journal were the two options he got rate information on. These were chosen because they are well read and respected in the business community. The advertising rates for these two publications were confirmed for a single one - quarter page ad as $2,500 and 1,500 respectively. IDC members again discussed these costs and the likely benefits. Again members reached agreement that these costs are prohibitive. Mr. Clapp suggested that the IDC consider an opportunity to submit an article on Mansfield that could be printed free of charge in one section of the New England Real Estate Journal. Members concurred that this was an option worth pursuing in the future. It was agreed that an event with business executives and real estate professions was the best and most cost - effective option to promote the town with the business community. With the fiscal year coming to a close soon, Mr. Flanagan checked with the Town Manager's officer regarding whether the IDC can encumber funds from its current budget, to be used for an event in the Fall. Town Accountant Bea Kearney advised that the town cannot encumber 04 budget funds for an event which is going to take place during the '05 fiscal year. Therefore, any event will have to be paid for with '05 funds. It remains to be clarified whether it is permissible to receive and pay an invoice for the Fall event's costs by June 30. Discussion: of new company Lacerta at the industrial park; it is a business involved in magnetic tape recycling. Questions raised on the status of Barry Controls' potential move to Mansfield; the move is now in question. Regarding the Hatheway - Patterson site, the Cecil Group was selected to work with the town on plans for cleanup and design for reuse of this property. A representative from Medeflex contacted the town recently about relocation; this would be a desirable business for Mansfield. Quadrant Software is looking for 25,000 square feet of space for relocation in Mansfield; for space reasons, the company moved to Taunton, but executives now want to come back. Members want to gather updated information on use of the buildings in Cabot Business Park: what is the capacity, and the current available space there. This information will assist IDC in answering questions of potential businesses. IDC to inquire with Town manager's office regarding contact person to get this information. Members also discussed possibility of working with the town to secure a marketing assistant or intern to work with the IDC. These matters to be addressed with the Town Manager at a future meeting. By agreement the next meeting was set for May 27 at 7:30 PM; by unanimous vote the meeting was adjourned at 9:15 PM.