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Mashpee EDIC Economic <br /> Development Plan <br /> BACKGROUND <br /> The Mashpee Economic Development and Industrial Corporation <br /> (Mashpee EDIC)was established in 2002 by a special act of the <br /> Massachusetts General Court (Chapter 372 of the Acts of 2002 — <br /> Appendix 1).The Mashpee EDIC is made up of a seven member board of <br /> directors representing specific constituencies of the town concerned with <br /> economic development.The town currently provides some staff assistance <br /> to the board;there are no paid employees of the corporation. <br /> The Mashpee EDIC is required to complete an economic development <br /> plan prior to embarking on any specific economic development projects. <br /> The plan must be first be vetted in a public hearing and then presented to <br /> the planning board prior to being approved by 2/3 vote of town meeting. <br /> Once approved Mashpee EDIC has the power to carry out any of the <br /> economic development projects included in the plan. <br /> Economic development projects must be within an economic <br /> development area which is defined in Section 1 of the enabling legislation. <br /> In general,an economic development area is a blighted,decadent,or <br /> underutilized area zoned for commercial or industrial uses.The <br /> legislation designated two specific economic development areas in <br /> Mashpee: <br /> i. The Old Augat site, and <br /> z. Mashpee Executive Park. <br /> Section 2 of the legislation outlines a number of reasons for this <br /> designation,finding the area an economic liability to the town and the <br /> need for public action.This economic development plan focuses on the <br /> Mashpee Executive Park. <br /> Mashpee EDIC Economic Development Plan Page 1 <br />