The Berkshires online guide to events, news and Berkshire County community information.
   FEBRUARY 13, 2012 |
NORTH ADAMS, MA • NOW: 14 °   
MEMBERS SIGN IN | SIGN UP TODAY!   
Send news, tips, press releases and questions to info@iBerkshires.com
Noteworthy
TOP STORIES AROUND THE COUNTY

Tax Incentives for Lowe's on Agenda in N. Adams

By Tammy Daniels
iBerkshires Staff
11:11PM / Monday, April 07, 2008
Print | Email |
Important
0
Interesting
0
Funny
0
Awesome
0
Infuriating
0
Ridiculous
0

NORTH ADAMS — The City Council will be asked tonight to declare the former North Adams Plaza as an economic opportunity area to foster its development.

Lowe's Home Centers Inc. plans to construct a 132,000 square-foot home improvement retail store on the site, owned by developer Starwood Ceruzzi. The Lowe's is expected to anchor development at the plaza and the neighboring Curran Highway parcel; a bank branch and restaurant are just two of the potential tenants.

In a communique to the council, Mayor John Barrett III said the city has been working out a tax increment financing agreement with Lowe's Home Centers Inc. and Starwood Ceruzzi.

Designating the site as a economic opportunity area would allow the developers to take advantage of certain local and state tax credits and deductions.

Barrett, in his letter to the council, wrote, "I am confident that this $15 million project will stimulate further private sector investment on the adjacent property. This Lowe's store will have a most positive impact on the city's economy as well as the Northern Berkshire area as a whole."

The development is expected to create 90 full-time and 50 part-time jobs when it opens in 2009.

The TIF agreement the mayor is proposing would gradually increase the tax assessment on the development over a 15-year schedule; the plan would also allow Lowe's to access a 5 percent investment tax credit through the state.

The council will take up both the designation and the tax financing plan.

Veterans Benefits

Also coming before the council is a reworked plan to provide a retroactive benefit to military veterans injured while working for the city.

The Legislature passed an act a few years ago that would allow municipalities to even up a perceived inequity in retirement benefits. It provides veterans injured in a city's or town's employ with the same yearly benefit (not to exceed $300) that retired veterans receive in their pensions; it also had a section for retroactive relief to the time they were disabled.

The city adopted the first provision but balked on the second because of the cost of funding retroactive benefits for the dozen or so veterans. The controversial proposal resurfaced again as the last act of former City Councilor Christopher Tremblay.

The council was ready to adopt the provision until Barrett threatened to veto it, saying the city could ill afford to spend $57,000 on retirees when it was in the middle of negotiations with its current employees.

A compromise solution would pay the retroactive benefit but only up to 50 percent of what it would have been on June 1, 2006. The order would be dependent upon the agreement of the North Adams Retirement Board.

The council will also take up:
  • The partitioning and sale of the Notre Dame property to Arch Street Development and Massachusetts College of Liberal Arts.
  • Reappointments to the Hoosac Water Quality District.
  • Increases in the costs of transfer station permits to offset rising fuel costs.
  • A request for an awning at the planned Hub restaurant on Main Street.
  • An increase in sewer use fees to 100 percent for those who don't pay property tax.
Your Comments
iBerkshires.com welcomes critical, respectful dialogue. Name-calling, personal attacks, libel, slander or foul language is not allowed. All comments are reviewed before posting and will be deleted or edited as necessary.
Comments are closed for this article. If you would like to contribute information on this article, e-mail us at info@iBerkshires.com
Any tax break given to Lowe's should also be given to any current business that will be in direct competition with the big box store. Positions filled by former employees of businesses that are forced to down-size or go out of business are not new jobs.
from: CJ Vadnaison: 04-08-2008 12:00AM
I Agree (0) - I Disagree (0)

when this development came to light we were told there would be no tax incentives.....the developers are going to develop this no matter what, look at the money they have already spent on land...why give them a tif?
from: ctremon: 04-08-2008 12:00AM
I Agree (1) - I Disagree (0)


RECENT STORIES



MOST VIEWED STORIES | MOST COMMENTS
iBerkshires.com Text Ads
www.thewilliamsinn.com
waterstgrill.com
www.iberkshires.com
altonwestall.com
Advertise on iBerkshires.com



 
View All
Vermont Lumberyard Fire
An Eagle Lumber Co. warehouse on Robillard Road in...
Father-Daughter Valentine's...
Dads and daughters were all dressed up for the 18th annual...
Boys BB: Pittsfield at Drury
2/8/12 Wednesday, was senior night at Drury High School....
Girls BB: Greylock at McCann
McCann fell to visiting Mount Greylock 55-30 at the...
Girls BB: Wahconah at Drury
Drury held on to beat Wahconah 47-45, Tuesday night at...
Boys BB: Monument at Drury
Monument Mountain outlasted Drury 53-51 in overtime on...
Girls BB: Taconic at Greylock
Taconic took down Mount Greylock 52-46 at the Mountie Dome...
Boys BB: St. Joe's at PHS
1/30/12 St. Joe's 70-64 win over city rival Pittsfield High...
2012 Annual UCP Telethon
United Cerebral Palsy of Berkshire County's 49th annual...
Boys BB: Hoosac Valley at...
Bird Breaks Out to Lead Devils over Hurricanes, on Tuesday...
Girls BB: Hoosac at Drury
Drury outscored Hoosac 27-13 in the second half in route to...
Boys BB: Drury at Greylock
Drury held on to beat Mt. Greylock 45-39 at the Mountie...
Girls BB: Drury at Mount...
1/16/12 Fourth-Quarter Run Pushes Devils Past Mounties...
Girls BB: Hoosac at Monument
The Hoosac Valley girls' basketball team got back on the...
Boys BB: Taconic at Drury
1/10/12 Drury boy's basketball team win over Taconic 54-53,...
Boys BB: Pittsfield vs Mount...
1/7/12 Coaches vs. Cancer Classic at MCLA gym on Saturday,...
Vermont Lumberyard Fire
An Eagle Lumber Co. warehouse on Robillard Road in...
Father-Daughter Valentine's...
Dads and daughters were all dressed up for the 18th annual...
Boys BB: Pittsfield at Drury
2/8/12 Wednesday, was senior night at Drury High School....
Girls BB: Greylock at McCann
McCann fell to visiting Mount Greylock 55-30 at the...
Girls BB: Wahconah at Drury
Drury held on to beat Wahconah 47-45, Tuesday night at...
Plus...


| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings | Berkshires Map |
Advertise | Recommend This Page | Help Contact Us | Privacy Policy| User Agreement
iBerkshires.com is owned and operated by: Boxcar Media 106 Main Street, P.O. Box 1787 North Adams, MA 01247 -- T. 413-663-3384 F.413-663-3615
© 2008 Boxcar Media LLC - All rights reserved