Source: https://www.ecode360.com/32578848
Timestamp: 2020-05-28 16:23:53
Document Index: 1745073

Matched Legal Cases: ['§ 90', '§ 90', '§ 90', 'Art. 4', '§ 59', '§ 2']

Town of Wakefield, MA Brownfields Tax Abatement Agreements
§ 90-1 Policy.
§ 90-2 Eligible sites.
§ 90-3 Abatement agreements.
Chapter 90 Brownfields Tax Abatement Agreements
[HISTORY: Adopted by the Regular Town Meeting of the Town of Wakefield 11-7-2016 by Art. 4. Amendments noted where applicable.]
It is the policy of the Town to use all available means including, where prudent, tax abatements under MGL c. 59, § 59A, to encourage the expeditious cleanup and redevelopment of commercial and industrial sites where there has been a release of oil or hazardous material.
Such abatements may be negotiated with respect to any sites or portions of sites within the Town that are zoned for commercial or industrial uses from which, or at which, there has been a release of oil or hazardous material.
No abatements under this bylaw shall be granted except pursuant to a written agreement approved by the Town Council (the "Board or Council") and duly executed on behalf of the Town by the Town Administrator with an "eligible person" as that term is defined in MGL c. 21E, § 2 (an "abatement agreement").
Abatement agreements shall be negotiated on the part of the Town by the Board or Council or its designee.
Abatement agreements shall provide only such tax relief as the Board or Council deems appropriate to accomplish the purpose of continuing environmental cleanup and redevelopment of the site(s) or portion(s) thereof that are the subject of the agreement.
Each abatement agreement shall clearly set forth, without limitation:
The amount of outstanding taxes, interest and penalties owed;
The amount of interest to accrue during the term of the abatement agreement, if determined applicable by the Board or Council, expressed as an annual percentage;
The monthly payments to be made to the Town, expressed in any quantifiable way that is satisfactory to the Board or Council;
The inception date of such payments;
The amount of late penalties; and
Any other terms of payment acceptable to the Board or Council.
Approval by Board or Council; execution by Town Administrator. No abatement agreement shall be effective until:
The Board or Council has duly voted its approval of a final draft thereof;
One or more execution originals of the abatement agreement has been signed by the Town Administrator and the owner of the property in question;
The said signatures have been duly notarized; and
It has been duly attested by the Town Clerk.
Filing of abatement agreements. Attested copies of all abatement agreements shall be furnished to the Massachusetts Department of Environmental Protection, the United States Environmental Protection Agency, the Commissioner of the Massachusetts Department of Revenue, the Board or Council and the owner of the property in question.