(Photo Credit: westminster-ma.gov)
WESTMINSTER — On November 19, 2024, a Special Town Meeting will take place at 6:30 p.m. at Westminster Elementary School to discuss several pivotal articles, including Articles 9 and 10, which propose Tax Increment Financing (TIF) agreements aimed at stimulating local economic growth. The meeting will be presided over by Town Moderator Dana Altobelli.
Articles 9 and 10: Proposed TIF Agreements
These articles seek approval for TIF agreements with two companies:
- Unified Global Packaging Group (UGPG), LLC: Plans a capital investment of $27,614,000, aiming to create 150 new full-time jobs over five years. The proposed TIF offers a six-year tax exemption on the incremental property value increase, starting with 100% in the first two years and gradually decreasing to 70% by the sixth year. Additionally, UGPG LLC commits to annual payments totaling $100,000 over five years to Westminster’s Capital Plan and intends to establish an internship program with local educational institutions.
- Home Depot (Project Sandbox): Intends to invest $104,000,000, with a goal of creating 150 new full-time jobs within three years of occupancy. The proposed TIF spans five years, offering a 100% tax exemption in the first year, decreasing to 5% by the fifth year. Home Depot also commits to local hiring and workforce development initiatives.
Other Notable Articles
In addition to the TIF agreements, the meeting will address several other significant articles:
- Article 1: Proposes transferring funds to supplement the Snow & Ice Removal accounts, ensuring adequate resources for winter maintenance.
- Article 2: Seeks approval to transfer funds to the Building Maintenance and Repair Stabilization Fund, aimed at preserving and enhancing town facilities.
- Article 3: Requests the transfer of funds to the Pension Liability Stabilization Fund, addressing future pension obligations.
- Article 4: Proposes transferring funds to the Other Post-Employment Benefits (OPEB) Trust, focusing on long-term retiree benefits.
- Article 5: Aims to allocate funds to the Road Maintenance Stabilization Fund, supporting the upkeep of local infrastructure.
Residents are encouraged to participate in the meeting to voice their opinions and vote on these critical matters affecting the town’s economic development and financial health.
