10/22/1998 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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Their 1999 budget is $165 ,000 (with an additional $155 ,000 ) . He suggested advertising in "image"' magazines such as Kipiingers , Money , INC. , Fortune , etc. He further suggested using the Internet and rallying the Chamber of Commerce. Robert Fortini , Treasurer of the Plymouth Industrial Development Corp. , stated there are approximately 56 acres left in the Park. There are presently 62 companies in the Park that create 4 , 500 jobs. KAO is for sale at $345 ,000 . The Park is comprised of small to medium-sized companies , which makes it diversified. They have banking connections to obtain their own financing. They have no EOA or ETA tax incentive programs. They may apply for these funds for the Portage Park project. They are looking at waterfront property which they would like the Town to acquire. He suggested going the non-profit route. They had the advantage of the availability of hundreds of acres of land that was given to their Town. It was declared a "depressed- area" by the federal government, which ultimately lead to their success. PEWOD grants will provide the infrastructure. There are 1 ,100 available acres in Plymouth yet to be determined. Wayne D. asked Mike G. to send him a flow chart of his organizational structure. Wayne D. stated he will sit down with Tom .Fudala to determine the Town ' s position regarding rezoning , and he will ask for an inventory of available land. Fred D. asked if there is a need for space in the Industrial Park. The Mash-gee Industrial Park has 30 acres available at $135 ,000 a lot (acre) . There is a price impediment at $46 sq. Falmouth is not concerned about the price they receive for their lots since the land was given to them. Fred D. noted that Mashpee Commmons is selling to developers to develop; they will not sell to the Town. Marty Harper noted that home-based businesses attract a higher income base. Edward Santos , President, of the Plymouth Industrial Development Corp. , stated that the organization was formed in 1962 , and will dissolve in 2012 under 501-C3 . They sold shares for acres. The Towns could not own land at that time. They received a government grant to build a road in the Industrial Park. They do not answer to the Town but rather to. a Board of Directors that meet four times per year. 4 + Wayne D. thanked 'the guest speakers for the -information and recommendations they made , and he welcomed an on-going dialogue with them. -2-