1/26/2006 BLUE RIBBON COMMITTEE Minutes

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Glenn Santos asked a question of Mr. Harding over who would get restrictions on first refusal, Mr.Larding replied that in Falmouth,when they set up the Falmouth Technology Farb,they created a special zone for EIB,-which is essentially like light industrial;it's two acres zoning. And then the ERIC board set up a series of covenants and deed restrictions used to existing business.No box stores,no warehouses, no car crushing.ERIC needed to develop the kind of businesses for the evolution of Cape Cod,he said. The development agreement with the Cape Cod Commission did environmental studies.Falmouth Technology Park built a 1,600 square foot building to provide for horseshoe crab experiments, said Mr, Larding, guaranteed answered, could contract 4-5 parts and could attract them at one time. The ELT had a tax incentive favoring tenancy over development. The ERIC was forward thinking,with Soo new jobs in the technology park, up to a 1000 jobs. The Chairman asked a question regarding the Bourne nonfun.ding,that the Falmouth ELT didn't hand Falmouth's up front."Are they(Bourne)going to borrow money?" he asked Mr.Harding replied that the Bourne was getting a handle of whatTs going on, The Town was missing planning and economic data and was able to get most of it done,that they were able to define areas,which were needed. Mr. Harding said in an aside,that the object for EDI 's was smart growth, a popular-concept at the moment.He said the Falmouth EDIC slogged it out for ten years, needing more ftinding and having a partner with the parcel. Lee gurney asked if Bourne had a concentrated plan for growth centers and that Mashpee had one. She added that the parcels of land should be trade at a reasonable price, in order not to give away the farm. The ERIC in Mashpee would have to market and charter the purpose for the purpose of job creation,job enhancement and job improvement. Mr.Larding said that.the EDIC parcels of lard would be tax incentive friendly,a %tax credit with the State of Massachusetts.That it would open up a.5%tax benefit to lige and that would have to be a point trade to the Town of Mashpee. The Chairman spoke to Mr.Harding and.the Committee and audience saying that in Falmouth's experience,jobs were created,and that there was growth in existing companies. He said that the EMC had incubators in Mashpee.He added that there was a second industrial park on 29A,Route I51, and asked if the EDIC would be able to help serve their problems. Mr.Miller interjected and said he wanted to paint a picture that everybody in the Committee liked the idea of having an EDI .He said that he thought the EDIC would succeed,that the caliber of jobs in Mashpee would be higher,that there would be an affordable housing component, and that the Town's EDIC would need.a Board of Directors.He also added that.the Town would have to put time and effort into it so that it would succeed,.and an input of cash. Ms, Gurney spoke up and said that the EDIC legislation had a bonding ability. Mr.Harding said that in Bourne,they had established an economic development task force,the conclusion of which was that Bourne needed an EDIC. At the town meeting,there was a vote to create a Bourne EDIC with members and the members would be charged with electing a Board of Directors, Ioyce Mason interjected that to legislation had to make up the EDI , The Chairman spoke and said that where Mashpee would need a charter for the town meeting. Funding was needed and that a piece of land should be set aside.He added that the matter was putting the EDIC together and that Mashpee was almost at the same place that Bourne was in, Ms.Mason asked if the lands that had to be set aside had to be an incubator building.Mr.Harding said that it did not have to be in that big of a parcel-two acres. Mr.Miller interjected one last thing was that it was against the law for the state to get involved in the EDIC.He said that they could facilitate it in low cost housing. Appropriate for EDIC, and the Town did not have to part of the EDIC to benefit frorn it. The Chairman said that the EDIC sounded very good,but what was the downside if the Town does not pay attention to what the EDIC was doing,that they could pollute it, being given power that could be taken away from them Mr. Hiller said that the EDIC Board should have people on it that had experience, a banker or a lawyer, and that the Board appointment should have some accountability to the Town. Mr.Theis spoke and said that because ofthe nature of the beast,the Town would see people to step up to participate. That Mashpee had a wealth of power. The Chairman asked the Board if they had any more questions about the EDIC.