2000-06-29CITY OF BEVERLY, MASSACHUSETTS
PUBLIC MEETING MINUTES
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RECORDER:
Economic and Community Development Council
June 29, 2000
Beverly City Hall
Chairnmn Joyce McMahon, Vice-chairman Bill
Rodenbaugh, Dick Moohey, Wayne Mastin, Don
Stacey, Deb Rosser
Brenda Spence
City Planner Tina Cassidy
Tina Cassidy
Rodenbaugh calls the meeting to order at 6:05 p.m. Cassidy explains that a certified project
application has been filed with the City and the State by Ives Development, a tenant at Cummings
Center. She explains that the ECDC is charged with reviewing the application and formulating a
recommendation as to whether the application should be considered for approval by the State.
She introduces two representatives of Ives Development who are present this evening to explain
the application and company; Mr. Nigel Cheshire, Chief Executive Officer, and Maribeth Forbes,
the company's financial controller.
Cheshire briefly explains the company' s founding, and explains that the Beverly office is the
company's software development headquarters. The company now employs 32 people in the
Beverly office, and expects to increase that number to 38-40 employees. The company has an
office in the U.K. and also in Japan.
Mooney asks how many people the company employs at its other locations. Cheshire responds
that they have 21 employees in the United Kingdom and three in the new office in Japan. Stacey
asks if their product is a "shrink wrap" product, and Cheshire states that it is. The company also
provides training and technical support to the end users of their product. Typically, the end users
are software developors working for corporations.
Cheshire states that the average cost per piece runs between $500 and $3,000.
Rodenbaugh states that one of the main principles of the Economic Opportunity Area/certified
project program is to create more employment opportunities in the Commonwealth. He asks if
the company has had any difficulty filling its open positions with people from this area. Cheshire
states that in general, they have not had a problem finding qualified employees, but that it has
been a little more difficult to fill some of the available positions during the last six months or so.
Much of that is likely related to the good economic times.
Stacey asks if the company has utilized venture capital financing. Cheshire states that when the
company was originally created they used less than $500,000 in venture capital financing.
ECDC minutes
June 29, 2000 meeting
Page two
Mastin asks if the company stock is privately held. Cheshire answers that it is. Rosser asks
Cheshire if he knows how many of his employees use public transportation to get to and from
work. Cheshire says he knows of one employee who routinely takes public transportation.
McMahon asks if there are any other questions from members of the council. There are none.
Rodenbaugh: motion to recommend that the certified project application of Ives Development be
submitted to the State for consideration, seconded by Stacey. All members in
favor, motion carries.
Next, McMahon distributes copies of a letter she received from the mayor regarding AMG, the
firm that has purchased the former Loeb Estate. AMG is seeking a TIF agreement for their site,
and the Mayor has asked the ECDC to review the request and comment on it. She suggests that
the council schedule a meeting for July to discuss the issue with representatives of AMG.
Members decide to schedule the next ECDC meeting for August 3rd at 6:00 p.m. In advance of
the meeting, Cassidy will send copies of the ECDC handbook to several members who have not
yet received the document. The handbook includes the criteria the ECDC developed to guide the
review of TIF applications some years ago.
McMahon asks if there is any other business for the group to discuss. There is none.
Rodenbaugh: motion to adjourn, seconded by Stacey. All members in favor, motion carries.
The meeting is adjourned at 6:30 p.m.