1999-TOWN MEETING RECORDS - Laserfiche WebLink

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ARTICLE 30 To see if the Town will vote to authorize the Board of Selectmen to establish the Mashpee Economic Development and Industrial Corporation in accordance with the following declaration: Where the need exists for an Economic Development and Industrial Corporation because unemployment or the threat thereof exists in the Town or that security against future unemployment and lack of business opportunity is required and that attracting new industry into the Town and substantially expanding existing industry through an economic development project or projects financed pursuant to General Laws Chapter 121C and implemented by such a corporation would alleviate the unemployment and lack of business opportunity problems, the Board of Selectmen is hereby authorized to establish the Mashpee Economic Development and Industrial Corporation, or take any other action relating thereto. Submitted by the Board of Selectmen A ' Explanation: This article provides an opportunity for the Town of Mashpee to create a I full time economic development program by allowing for the utilization of other outside funding sources. The new program structure augments nominal local municipal funding with grants, loans, and private contributions. Further, with the establishment of the nonprofit Mashpee EDIC, currently zoned industrial and commercial property which is II either unused, underused or underdeveloped can be properly managed to produce a sound and environmentally sensitive economy. i i ARTICLE 31 To see if the Town will vote to amend the zoning bylaw by adding a new Section 174- 27.1 as follows: "174-27.1 Development Agreements. A. Purpose and Intent. This bylaw enables the Town to enter into development agreements consistent with the provisions of the Cape Cod Commission Act and Chapter D - Code of Cape Cod Commission Regulations of General Application. The Act provides that such development agreements may be entered into so long as the Town's Local Comprehensive Plan has been certified by the Cape Cod Commission as consistent with the Regional Policy Plan and said certification has not been revoked. B. Definitions. In addition to the definitions contained in Section 174-3, the following shall apply to this section: DEVELOPMENT AGREEMENT - a contract entered into among the Town and/or the Cape Cod Commission, and/or another municipality or municipalities and a holder of property development rights (Qualified Applicant), the principal purpose of which is to negotiate and to establish the development regulations that will apply to the 25 �I