09/04/2007 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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MASHPEE ECONOMIC DEVELOPMENT/INDUSTRIAL CORPORATION MINUTES SEPTEMBER 4, 2007 Present: Joe Noonan, Robyn Simmons, Terrie Cook, Rene Read, Bob Walsh, Doug Storrs. Joe Noonan opened and chaired the meeting at 4:00 p.m. The Minutes of August 7`h were unanimously approved. Doug Storrs gave a presentation on the remaining development plans for Mashpee Commons. He talked about the new library which is being funded by the State. He reviewed new and additional construction plans for Mashpee Commons. The old Shaw's Market will be torn down and replaced with a new two-story building for a total of 22,OOOsf. He noted that all the construction costs are on the lst floor and the 2nd floor is nominal. Building a 3rd floor is very expensive. At one time they planned to build a European style hotel, 52 rooms with a small lobby and Mashpee Commons offering eateries and shopping, but the permitting was not allowed. This model is similar to one on Newbury Street. There were too many zoning/permitting impediments. The process would take three years today and be costly. They did a marketing study for a hotel. Hotel sales tax is good monetary income for the Town. He noted there is a change in the demographics/hospitality trend. People buy and rent seasonal homes in the hopes to retire, resulting in less demand for hotel stays. They will develop the remaining 20 acres on Market Street and then Steeple Street next. The Trott Pond 50-acre parcel will contain walking trails. He talked about "bookend" construction where you build spiritual and/or cultural type buildings on opposite ends, i.e. Children's Museum and the Church. They built a civic band of buildings around the Coombs School. The Chinese Restaurant will be a tear down. Long term employees are a key benefit and paying them above market rate keeps them year round. They are considering different uses, i.e. vertical building, a bowling alley rather than more retail. There is an October conference on this topic which Doug will forward Rene the details. Is there a demand for a conference room? Yes, for the 15-25 person range and possibly 40-50 person range. We are working on a conference center to attract business to our Town. EDIC has two parcels to work with: 5.5acres and 2.5 acres. Robyn Simmons was appointed the EDIC representative to serve on the Affordable Housing Trust. Joe Noonan suggested the Town hire a Director of Development to handle the day-to-day operations. The Town Manager would need to be consulted about this. The initial site for the wind tower was not suitable, and they are looking at Mashpee High School as a good location. The noise factor will affect residential. Heritage Park and Town Beach might also be good locations. Joe Noonan will mail members information on the 501c status. Can we float tax exempt bonds?