HomeMy WebLinkAboutMicrosoft PowerPoint - LucentTIFs Rev #1 [Compatibility Mode] a
\� IM, -
It
O \ \
d
C)
-a_ .
(mc)
1600 Osgood S LLC
..........
✓ r 1 u rb h
a � � ✓pf r
J ✓ �a�
w fi/� � h4 "„ '� '�' ��,�.. ;'.. h Y✓F r ,.r���a;u(k yd�U " a �!v
_ �✓/l �,s�5 ,r itII� � ✓r /,�'119i1(�i"�b�✓�l r � � r ✓ i ✓
'jo
✓✓ �r ✓r✓j✓ mill �✓ yu
J ,��7n�f� �� �U a �✓ r�� ',� �//!r ru ✓i ✓ Y r" /r. ,,. y I i � ..,
J aNlf✓���kll ����t , ��1 � l� _ /� ��"" % 1 � 1N(,�6�7kY!+ 4�
�,� I✓ ��� ��� ° f1",✓n, � f✓✓/�9 y,� ✓ �/ / �If rrx�i✓ II�',�6'�6i�1'e�IfY�f�k
mJh"i,�.�. P.✓✓��1� �^ ,. ,��� �% �i, 1 t..,� r�✓h��✓sNirwy�ttF � �i �� ✓yI%�✓�%r
�i i «uc✓�,,,r�,rii
�l!!� _. ;i J6111 i (' 7 i. C' + h?(�✓ i u !"f°�ll ar+r✓�m,�irYIiIVU�!NY�Y11b7 W7YH1IPhJG�'�wi/ i�✓' .»„ �w,,,,
✓ �Y ✓i ✓91 / Gnaw r� /�%✓If��✓I
r 1�
r. ✓r 4i ( V)Jdf 14�,✓✓��l�i 4�'r �i � o�✓ ^'/ 1, ry ��r6 ✓ ���✓ /✓� �'� ✓ii/�i��ri/9'"Y✓✓�„ �
I�, y
P _ r✓ ✓/✓ ) u�✓ tl r°dn
l rw.
M'
o11Y1��i � i t✓ r,�Nai it www+w«u «w� �w°,w ' p
.r U
, �� ,w ,r� y,ky�' / w.,�crw a✓ r ✓/✓urn _ � V
0i
Y rrl ✓ Ci7;� � v a�✓�� �� � �� l�^w.am� �wm l
l b
tare r �W
' R, ,. - ..� � ", �l��1 n�� �iiw����+w� eww ,oww+mrwwv���°"� ���� i ���t✓
�m w,;, n /�/O✓it rl r ✓v iii r7✓� t ✓�
,spry �uii�✓,� N! �r .,�, � yr, u�
:. 1600 ' .....
1ME 1 NG
ABC N i TO C iC R■
WON
MEE
li r' y
X
µ
ee
STREET
„(
ANDCVVFA IM
. , rwNf✓il �
IfiLiYYWIb7l�ira ",
wrwuM
INTErd=
ATRiUN INTERIQR VIEW
6.06
1ME 1 Ims
RLC H IT CTU R■
p �avu,�
a
d a � � J� a ��/ s Gi 9 1 R' ✓ i � �q,,�
TREET
ANDDVER.IM
�oav�iuirti.
C.OLWffAIW
COURTYARD VIEW
6.05
AYdibcf:
IMENDING
RR CH I T I C TU R■
�
�� �
or
f
'dIf
i
gr � r 4", �Y
t % �
STREET
t �°�1�y4 'VW� ariwluiiva olio r�l .,, ANDOVER FM
wa Mamoiurti. NM NORTH
ENTRANCE
NEW NORTH ENTRANCE
7.00
What is a TIF ?
• An economic development tool authorized
by the State .
• Allows the developer to receive property
tax breaks on new value created .
• Developer continues to pay 100% taxes
on existing facility.
• Access to state tax credits and exemption
to personal property taxes .
TIF Terms
• 20 years
• Front-ended tax discounts
— 90% first two years
— Decreasing by 5% for next 8 years to 50%
— Years 11 -15: Start @ 25% , end @5%
— Years 16-20: 1
• Begins in FY2006
Estimated Tax Break
• Assumptions
— Current assessed value of $24M
— $ 1 M . in value added each year for 20 years
— Tax rate of $ 14. 28
• Total 20 yr. Tax Bill w/o TIF : $9 . 89 M
• Total 20 yr. Tax Bill w/ TIF : $9 . 24 M
• Tax Savings : $0 . 65 M
TIF Terms ( Con ' t . )
• 70% of occupied space must be used
primarily for commercial or industrial uses .
• New Buildings Constructed on the Site
must receive approval from Selectmen &
Planning Board to be eligible for TIF
TIF Terms ( Con ' t . )
• Use of recreational fields through 07 &
annually there after.
• Free use of 5000 sq . ft. of office space for
10 years
• Use of auditorium
Recommended By :
• Board of Selectmen
• Finance Committee
Planning Board
1600 Osgood S LLC
IN
/ �I /l��J�('��/(fir/J/�/J����re r' .;(�iJ r r/ J�J;',i ra�irr�i o,ii:. / /� ✓.psi'/r�/�,,,� Jr i. J
,�/. lr J. //i r o✓ ��' i/i/,r,ir„(,, //i .,....JJi/ rr/ //rr r�';,rr r 'v„iii ,,,,iii ��.,
..., // -� rrG/i��/� //i Y�t% r Jl.,, i, ,.,,.i%� //„r./.rr/o//,/ rGi// �r,JD, ,,, i r.,.r.,✓JiJ'i/aoi// '�i';;;.
r J �J�JJ
r fi
Y
r
�u r
r.
�l
i Yr
r