3/8/2016 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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Galasso, EDIC in Falmouth, and asked him how Falmouth EDIC handles grants and low interest loans to their business communities. Mr. Galasso said they don't do grants, they do low interest loans thru the Cape Cod Commission Economic Development, Tom Mayo said he will forward EDIC's enabling legislation to Pat Costello, EDIC's counsel, and ask him to give us an opinion as to whether we are allowed to make this grant and to please provide EDIC with a clear summary of what they can or cannot do. Motion: Terrie Cook moved to forward EDIC's enabling legislation to Pat Costello, FDIC's counsel, for his review. Seconded by Denise Dutson. Vote unanimous 6-0 Terrie Cook suggested creating a working group to work on this process. If we find out we can do a grant we have to develop policies and procedures. We need a proper policy and procedure written down because this is precedent setting. Robin Simmons, Denise Dutson, and Carol Sherman volunteered to be on this group. Chairman Sherman noted they will wait for town counsel's opinion before they set up a meeting. There was also a brief discussion regarding setting up an Investment Policy and Terrie Cook said she would provide a copy of a policy she has been working on with the library. 2. Discussion regarding development options at town owned property located at 51 Mashpee Neck Road, assessor's map 62-67 (present for this discussion—Selectman O'Hara. Selectman O'Hara said the VFW has been given a parcel of land in this area via a lease by the Town ofMashpee. The members reviewed the map provided. He noted the lots that are already owned by the town and commented he was totally unaware that this was town land. He felt the land could be used for many uses such as affordable housing, 4013, VFW, Senior Housing, retail and a hotel. Selectman O'Hara suggested this may be the right time to do a study on the best use of this land. He thought ERIC may be able to use some money to do a feasibility study for the best use of the land. Following a discussion, Tom Mayo said EDIC's role would be to sponsor an article for development of this land. Terrie Cook suggested a working group and Selectman O'Hara to serve on this group, Selectmen O'Hara said this is an incredible opportunity. The town could be much better with additional tax revenue, affordable housing. Veterans housing, a 40 B project and a hotel. Some of the groups mentioned to be part of a working group were Affordable Housing, Community Preservation, and Cape Cod Commission. Terrie Cook noted there are possibilities for mixed uses at this location which brings us into#3 on the agenda which is the zoning bylaws. She said she thinks we need to overhaul them to make things a little friendlier. Selectman O'Hara said he is working on this with Tom Fudala. It was suggested to have an independent come in and go through all of the bylaws. Selectman O'Hara said he would be available to the members if they have any questions.