2012 AUGUST-MASHPEE EDIC Plan for Executive Park

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SECTION 6.(a) No economic development project shall be undertaken until (1) a public hearing relating to the town's economic development plans covering the project has been held by the corporation after due notice; (2)the town's economic development plans have been approved by an affirmative 2/3 vote of an annual town meeting or a special town meeting called for the purpose by the town. If an economic development project covered by the plans is not commenced within 7 years after the approval of the plans,the approval of the plans shall lapse. (b)Every economic development plan submitted to town meeting for approval under this act(i) shall require that every person occupying the whole or any part of the economic development area shall make every reasonable effort, in employing persons in his business,to give to the fullest practicable extent preference to residents of the town and (ii) shall be accompanied by a report on the plan by the planning board of the town to whom the plan shall have been submitted before its submission to town meeting,by a statement of the proposed method for financing each project covered by the plan, by a comprehensive relocation plan and by such other information as the corporation considers advisable. (c)Notice of the public hearing required by subsection(a) shall be given by the corporation to(1)persons, groups and organizations as have requested in writing that notice be given them, (2)MOBD and the director and any agency, whether of the town or of the commonwealth,likely in the judgment of the corporation to have an actual or potential interest in the economic development plan, (3)the senator for every senatorial district of the commonwealth, and the representative for every representative district thereof,within which the economic development area or any part thereof lies, and(4) each community group supported in whole or in part by public funds, whose territory covers all or part of the economic development area. (d) If an economic development plan is so approved by town meeting,the corporation shall have the powers and duties imposed by this act to undertake and carry out the economic development projects covered by the plan. The corporation shall not be required to submit an economic development plan so approved to MOBD for further approval.. SECTION 7.Except as provided herein,rents and charges for services or facilities furnished or supplied by the corporation shall not be subject to supervision or regulation by any department, division, commission,board,bureau or agency of the commonwealth or the town. If such rents and charges are derived from a project in connection with which revenue bonds have been issued,they shall, with all other revenues derived from the project, except the part thereof necessary to pay the cost of maintenance,repair and operation and.to provide such reserves therefor as provided for in the resolution authorizing the issuance of the bonds or in the trust agreement, but including the part thereof necessary to provide such reserves for the payment of the principal of and the interest on the revenue bonds as provided for in the resolution or trust agreement, and including also use proceeds of any and all sales by the corporation of property within the project area,be set aside at the regular intervals provided for in the resolution or trust