Town News

Posted on: January 9, 2017

Urban Center Housing Tax Increment Financing Public Hearing January 18, 2017

  1. 266 Waverly Street - North/West Perspective (Mill Creek)

On Wednesday, January 18, 2017 at 7:00 p.m. in the Ablondi Room of the Memorial Building a Public Hearing will be held regarding Urban Center Housing Tax Increment Financing. Since Town Meeting approved CB District zoning amendments in October 2015, Town staff have been working to attract developer interest in downtown Transit Oriented Development (TOD).  The Town has gained the interest of two national developers, who have requested financial assistance to help advance their projects. The Town has engaged in negotiations with both developers, to provide Tax Increment Financing (TIF) through the state’s Urban Center Housing TIF program. To provide TIF support, Town Meeting must approve a new TIF Plan and Zone, to reflect new state rules. On January 18, the Town will hold a hearing to inform the public and take comment on the new TIF Plan and Zone. For more information visit: www.framinghamma.gov/TIF

                              

 



















  1. 266 Waverly Street - North/West Perspective (Mill Creek)




















Image of 266 Waverly Street - North/West Perspective (Mill Creek)

 





















Since Town Meeting approved CB District zoning amendments in October 2015, Town staff have been working to attract developer interest in downtown Transit Oriented Development (TOD).  The Town has gained the interest of two national developers, who have requested financial assistance to help advance their projects. The Town has engaged in negotiations with both developers, to provide Tax Increment Financing (TIF) through the state’s Urban Center Housing TIF program. To provide TIF support, Town Meeting must approve a new TIF Plan and Zone, to reflect new state rules. On January 18, the Town will hold a hearing to inform the public and take comment on the new TIF Plan and Zone.





















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