07/22/2008 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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z� MASBPEE ECONOMIC DEVELOPMENT/INDUSTRIAL CORP. NIINUTES JULY 22, 2008 Present: Joe Noonan, Rene Read, Mary LeClair, Bob Walsh, Beth Curtin, Bob Cobuzzi, Robyn Simmons. Absent: Terry Cook, Liaison to the Board of Selectmen Also present: Brian Kehrl, Mashpee Enterprise Joe Noonan chaired and opened the meeting at 6:05 p.m. The Minutes of June 3, 2008 were moved and approved as presented. The Minutes of July 8, 2008 were moved and approved as amended. Joe reported that the Board of Selectmen unanimously approved sending the letter of intent to the CCEDC for a $75,000 grant for an EDIC consulting firm. The Selectmen approved the advance of their contribution of$3,750 for their portion. Mary LeClair will hand deliver the letter with the EDIC signatures to Dan Dray, the Administrator of the Economic Development Grant Program. Joe reported on the July I Wh meeting with the Town Manager Joyce Mason, Selectman John Cahalane, Rene Read, and Terrie Cook regarding the tax-taking properties. There are about 30 potentially saleable properties, but there is not a great deal of money to he made. The monies would go into the General Fund, and it would be up to the Town whether to allocate the monies to FDIC. It is believed that the 2.6 acres has already been transferred to EDIC in the past. Rene will follow up and find the paperwork on this deal back around 2000. EDIC has the option to sell the property or develop it. A discussion ensued about contract management and cash management. The Town Manager would like to hear an opinion from Town Counsel. EDIC would most likely enter into a Memorandum of Agreement with the Town. We can take a vote to determine if EDIC is independent or under Town Management. If EDIC owns the land, it can use it as collateral. If there is no paperwork on this transfer, than EDIC needs to have the Board of Selectmen transfer the property again. Rene was asked if he is bonded, and he answered he was when he became acting Treasurer in the past. Rene was asked to acquire a corporate seal with EDIC on it. Beth Curtin noted that there is some interest by a business looking to locate in the Industrial Park, and this might be our first client. She has a contact name for consulting. Bob Walsh stated we need a scope first. Joe Noonan will confirm the meeting with Town Counsel on Friday, the 251h of July. Those attending will be Joe Noonan, Bob Walsh, and Rene Read.