05/17/1999 SELECT BOARD Minutes - Laserfiche WebLink

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3 Board of Selectmen Minutes May 17, 1999 APPOINTMENTS AND HEARINGS: Charles Talanian—South Cape Village Center: Don Megathlin and Jim Vaccaro were present to discuss the fiscal impact analysis of the proposed SouthCape Village Center. Talanian Realty has owned the flea market site consisting of 25 acres for the past ten years. The shopping center has been proposed for a number of years,but it was never constructed due to the distressed economy of Cape Cod during the late 1980's and early 1990's. At this time,positive economic and demographic exist on the Cape for retail growth,which is fueled by substantial residential growth. The Cape does not have a major outlet center with many national brands. Market studies indicated that an outlet center would be supplementary to the present retail mix in the Town of Mashpee informed Mr. Vaccaro The site conforms to local public policy, including zoning, and the Local Comprehensive Plan. The Cape Cod Commission has designated it as a Growth Activity Center. Mr. Megathlin addressed issues relative to traffic,nitrate, economic development, mitigation and fiscal impact. It was noted that the SouthCape Village Center Project will broaden the non-residential tax base,have a minimal impact on municipal service with no impact on the school system. A minimum of$300,000 is expected to be generated in annual revenue for the municipality. In addition, over 400 jobs will be provided during the construction phase. More than 170 retail positions will be created. Mr. Talanian is also committed to employ Cape Cod contractors. The community will be the beneficiary of a series of improvements relative to traffic; transportation and water resources; all to be funded by the SouthCape project indicated Mr. Vaccaro. Talanian Realty will contribute an investment of over$2 million to provide traffic and road improvements,transportation improvements, water resource improvements and beautification.