G. LICENSE TRANSACTIONS
H. PRESENTATIONS/DISCUSSIONS - YMCA – Darkness to Light Program (postponed to future meeting)
J. LEGISLATION FOR ACTION
1. Resolution 11-46: Authorizing Tax Increment Financing Hamilton Storage Technologies Inc, 3 Forge Parkway
Brief 5 minute presentation by the company about what they do and how they have developed. They are in high technology and particularly in biotech. Novartis and Roche Pharmaceuticals are their top two customers
The Tax Increment Financing (TIF) allows Franklin to collect the normal set of taxes on the base value of the property and then a declining additional portion on the increase in incremental value of the work being done to improve the plot/building.
A good deal for Franklin as we tax revenue, they get an incentive to come here (from Hopkinton and Milford). Their incentive is a declining additional tax over a ten year period.
motion to accept, seconded, passed 8-0
The full set of documents for this agenda can be found here