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HomeMy WebLinkAbout2008-10-22 Business and Economic Development Committee Minutes 1 ' BUSINESS AND ECONOMIC DEVELOPMENT COMMITTEE October 22, 2008 Minutes ' Councilor Attendance: Palmer, D'Errico, Wheeler, Farrington Staff Attendance: McKay, Bolduc, Barrett , Others: Brian Paul, Oxford Networks 1. Amendment to the Bangor Pine Tree Zone for Oxford Networks , Bolduc said this will amend the Bangor Pine Tree Zone to include properly that will house Oxford Network's central office. He noted the attendance of Brian Paul from , Oxford. Oxford has requested that lots 11 and 14 on tax Map 43 at 40 and 60 Summer Street be included in the Bangor Pine Tree Zone. Their central office, as well as one of their sales and marketing offices, has been located at the site. Oxford , has invested over$2M in the fiber optic network in order to provide many communication services to businesses end residents in the Greater Bangor area. They anticipate 11 employees initially with increases to follow. They have been in ' Maine for over 100 years. Mr. Paul indicated that Oxford has been in Bangor since 1999. The fiber optic operation has been in Bangor during the past year. Barrett asked Bolduc to explain the benefits of a Pine Tree Zone. Bolduc said all of the � benefits are derived by the State. Bangor has a finite amount of property designated as a Pine Tree Zone. Advantages to the company are tax related; i.e., income tax incentives, sales tax, employee tax, tax increment financing. The company has to meet criteria in terms of a wage level and certain employee � benefits. Responding to Wheeler, Paul said there are currently two positions in place today and the remainder will be hired this year. Up to six additional employees may be hired in 2009. ' A motion was made and seconded to recommend approval of staff's recommendation to the full Council. A public hearing will be required the first ' Council meeting in November. 2. Extension of Option Agreement for Development of 113 Maine Avenue — David B. , Lawler Bolduc pointed out that Mr. Lawler was in attendance. On September 8, 2008, the , Council approved a purchase option development agreement with Lawler for 113 Maine Avenue. He intends to rehab the building and lease it for business use. The agreement required that Lawler receive site plan and approval of the Business and ' Economic Development Committee before the option can be exercised. The deadline is Odober 31 of this year and Lawler requested an additional three months to aliow time for the two approvals. Lawler indicated a delay with his engineering , company but all is ready to move forward. A motion was made and seconded to recommend staff approval. This item will also be referred to the full Council for final action. ' A motion was made to adjoum. , ' '