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Town Warrant - May 4, 2010

29. Contaminated Property Redevelopment Incentive Bylaw (Town Manager)

Thursday, 15 April 2010 21:07

ARTICLE 29. Contaminated Property Redevelopment Incentive Bylaw (Town Manager)

To see if the Town will amend the General Bylaws to add a new Article 45 as follows:

Section 1. Purpose

It is the intent of the Town to offer tax abatements to encourage the continued environmental cleanup and redevelopment of sites that are zoned for industrial and/or commercial use that are contaminated with oil and/or other hazardous materials.

Section 2. Authority

The Town Manager is hereby authorized to work to negotiate agreements regarding the payment of outstanding real estate taxes, interest and penalties, including abatement of those amounts needed to make a cleanup and redevelopment project economically feasible. Said agreement may also contain additional incentives, financial and otherwise as may be deemed appropriate.

Section 3. Scope of Authority

Agreements may cover property contaminated with oil or other hazardous materials and must be zoned for commercial or industrial use. Agreements may be entered into only with new, innocent purchasers who did not own the site at the time the oil or hazardous material was released and did not cause or contribute to its release. Agreements must specify the details agreed to regarding payment of any outstanding obligations, including the amount owed, rate of interest to accrue, if any, amount of monthly payments, payment schedule, late penalties and other terms. These obligations may consist of outstanding real estate taxes or other financing packages negotiated with the Town.

Agreements must be signed by the Board of Selectmen and property owner and must be notarized and attested to by the Town Clerk. Copies must be provided to the Massachusetts Commissioner of Revenue, Massachusetts department of Environmental Protection, United States Environmental Protection Agency, Board of Assessors and the property owner.

Section 4. Approval of Agreements

All agreements must be approved by a majority vote of the Board of Selectmen.

or take any other action thereon.