Patriot Beverage, LLC, 3 & 20 Harvard Road EDIP TIF

On October 26, 2016, the Board of Selectmen voted to approve a Tax Increment Financing Agreement and Host Community Agreement with Patriot Beverage, LLC relative to 3 and 20 Harvard Road, both agreements subject to approval as to form by Town Counsel, with the TIF agreement to be subject to further approval by town meeting and the State's Economic Assistance Coordinating Council. On December 13, 2016, the EEAC approved the EDIP / TIF application. The TIF agreement commenced July 1, 2017. The HCA provides for a mitigation payment of $20,000 to be paid within 3 months of date Company meets its obligation to create 50 new jobs (by Year 5). The $20,000 will be a particular project or projects to be agreed upon by the Company and the Board of Selectmen.

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