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Mr. Duchemin noted that a lot of the effort of the Economic Development now is concerning <br /> the Augat property. He stated that they-are trying to control that property so they-can bring in <br /> the kinds of businesses that are appropriate for the town. He stated that they are worli,ng <br /> right now with the Cape Cod Chamber of Commerce and the Mate to aettally-take over the <br /> site. <br /> Mr. Golub questioned Mr.Duchemin on why he feels Economic Development needs to be <br /> under the FDIC as a non-profit organization. Mr.Duchemin stated that first of all,ther-e are <br /> demands in town for certain types of businesses along with a mandate from the town to <br /> develop manufacturing industry to Help disburse some of the tax burden on residential home <br /> owners. Therefore, in light of the aforementioned and in light of the strategic plan that they <br /> have developed which coincides with the Town's Economic Development Comprehensive <br /> Plan and the Regional Comprehensive Plait,Economic Development is proceeding with the <br /> program according to the mandates which came out of Town. <br /> Mr.Duch rain stated that,in addition,looking at what has been going on in town in tens of <br /> the impact on the town's budget, he looks at this as an opportunity for the town to carry less <br /> of a burden for the program. Mr.Duchemin stated-that it is time for Economic Development <br /> to go full-tune and the Town will not fund a full-time program. Having realized that, he said <br /> that it makes sense to go this route because they can get funding from the state,private <br /> enterprise,the government,and continue relationship with the town on whatever level by its <br /> representation on the Board of Directors. Mr.Duchemin stated that it makes good economic <br /> sense to go this roue. <br /> Mr. Golub questioned if anything has ever been studied which would indicate that certain <br /> types of businesses have a net positive affect on the tax burden. lir.Duchemin stated that <br /> part of their effort with this whole program is to bring on an Economic Development P'ro ler <br /> that will help thein do just that and determine what different types of businesses will do for us <br /> as well-as what we can do for them. <br /> Mr_ Watt noted that Economic Development ent has only expended 22%of their expense budget <br /> to date. IW Duchemin stated that a good part of that expenditure which has not been spent <br /> ,yet is because they were waiting for the County to announce the recipients of the grant <br /> program for the license plate program. He stated that they found out that they were not <br /> chosen. Now,what they are going to do is to set up a satellite location in town for an <br /> information center—they are going to go ahead with the project without the County funds; <br /> therefore,those funds will be expended.. He noted that he also has some outstanding bills <br /> from the sign maker because they lost three signs this past year. In addition,he noted that <br /> part of the money will also be spent for marketing of the Business Forum. <br /> Mr. Watt questioned if in the process of setting up the corporation, is the town obligating <br /> itself to support the corporation at a certain level. Mr.Duchemin stated that,by law,this also <br /> has to be approved by the Mate Legislature and the Town has to be a part of this. Mr. watt <br /> questioned if the Town would be required to pick up any deficits. Mr. Duchernin stated that <br /> ,,the Town will not be required to pick up any deficits—it operates on its own. <br /> Mr. Nutt questioned what the anticipated yearly commitment from the town will be for <br /> Economic Development. Mr.Duchemin stated that it should remain right where it is now— <br /> at approximately$40,000. <br />