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1999-09-02CITY OF BEVERLY, MASSACHUSETTS PUBLIC MEETING MINUTES BOARD OR COMMISSION: DATE: PLACE: MEMBERS PRESENT: MEMBERSABSENT: ALSO PRESENT: RECORDER: Economic and Community Development Council September 2, 1999 City Hall, 191 Cabot Street Chairman Joyce McMahon, Vice-Chairman Bill Rodenhaugh, Deborah Rosser, Dick Mooney, Wayne Mastin, Brenda Spence, Donald Stacey City Planner Tina Cassidy Kim Lauranzano McMahon calls the meeting to order at 8:00 p.m. and asks the Council to review the changes that were made at the last meeting to the economic build-out analysis of the IR- zoned land near Norwood Pond. She asks the Council to approve the current draft with edits unless more changes need to be made. McMahon states that in the first paragraph of page two entitled "Background and Assumptions" the sentence "Areas identified as vegetative wetlands were eliminated from the study area" was added. She also points out that the fourth paragraph references a commercial tax rate of $24.73 per thousand, and after a brief discussion the current commemial tax rate of $26.79 per thousand is used instead. Members approve these changes. McMahon asks the members to turn to page three and review the changes that were made. She states that the first sentence of the first paragraph was added. Rodenbaugh and McMahon have a discussion about the potential tax revenues that might result if the industrially-zoned land in this area were developed. Rodenhaugh agrees that approximately $640,000 in new annual tax revenues could result. McMahon outlines the changes made in the second and third paragraphs of that page at the request of Mr. Bill LaChance. Members review and accept the changes. McMahon reads the "Conclusion" section on page four, and asks Rodenbaugh to confirm the quoted tax revenue figure of $640,000. He confirms that number. She also asks members if they agree including the percentages is important. Rodenbaugh suggests it is in fact important to include that information. Mooney remembers the percentage of tax value paid to the City as being 22%. Following a brief discussion, the council decides to make the following changes to the f'ncst paragraph of the "Conclusion" section: ECDC minutes September 2, 1999 meeting Page two Amend first sentence to mad "The construction of an overpass and interchange at Route 128 and Dunham Road/Norwood Pond will facilitate development of land in that area." · Add the sentence "The ECDC's conservative estimates show that the City stands to increase its commercial and industrial tax revenues by $640,000 per year." · Amend third sentence to read "Should the area under study be developed, in approximately twenty years it would represent over 20% of Beverly's total industrial tax value and a 50% increase in the area's tax revenue paid to the City, all while keeping the amount of Beverly's industrially-zoned land constant". Rosser points out that this would reduce Beverly's residential tax burden. She states that some people are complaining about residential property tax increases and she feels we need to emphasize how increased industrial development could reduce the tax burden. McMahon suggests adding the statement "The tax dollars fi'om this prospective development would help stabilize Beverly's tax base and potentially reduce the tax .burden on res. idential property owners." Rodenbaugh states that Beverly continues to increase serwces and the budget continues to go up. The City must bring in additional tax dollars fi'om commercial and industrial uses. The council agrees to the changes suggested above. McMahon asks the council if it wants to leave the last paragraph as it is drafted. Stacey suggests dropping the word "any" ~'om the second sentence of the last paragraph. Rosser states that the phrase "...that are hard to put a dollar figure on..." be eliminated as well. McMahon asks that the council formally vote to accept the changes suggested tonight. Rodenbaugh: motion to approve the changes to the draft economic development analysis as discussed tonight, seconded by Rosser. All members in favor, motion carries. Members schedule the next meeting of the ECDC for Wednesday, October 6, 1999 at 7:00 p.m. in the Council Chambers. ' Rodenbaugh: motion to adjourn, seconded by Mooney. All members in favor, motion carries. The meeting is adjoumed at 9:00 p.m.